Mexico’s Economic Indicators: Activity, Inflation, and Trade
The upcoming week’s economic calendar in Mexico includes monthly economic activity reports, sector-specific surveys on commerce, services, and construction, as well as inflation and trade balance data. In the United States, analysts will be watching for revised information on the second quarter GDP.
Tuesday, September 24: Economic Activity
- Global Indicator of Economic Activity (July)
- Monthly Survey of Business Establishments (July)
- Monthly Services Survey (July)
- Results of the government securities auction
- US Manufacturing PMI (September)
- US Services PMI (September)
- Existing Home Sales in the US (August)
On Tuesday, Mexico will release the Global Indicator of Economic Activity (IGAE), a monthly estimate of GDP. This indicator provides timely insights into the performance of Mexico’s economy, revealing short-term trends in production, services, consumption, and exports.
The Monthly Survey of Business Establishments (EMEC), conducted by INEGI, offers information on sales, employment, and wages in wholesale and retail establishments. It’s crucial for analyzing domestic trade behavior in Mexico and projecting its impact on economic activity.
The Monthly Services Survey provides detailed information on revenues, employment, and expenses in non-commercial companies, excluding retail. It helps assess short-term trends in private sector services and anticipate their contribution to economic growth.
As usual, the Bank of Mexico will announce the results of government securities auctions, including interest rates and amounts at which the Mexican government issues debt to investors. These results serve as a gauge for market confidence in public finances, risk appetite, and expectations for monetary policy.
Wednesday, September 25: Inflation
- Inflation in Mexico (first half of September)
- National Survey of Construction Companies (September)
- New Home Sales in the US (August)
On Wednesday, Mexico’s inflation report for the first half of September will be released. This indicator measures the variation in prices of a basket of goods and services, directly influencing monetary policy, purchasing power, and interest rate expectations.
The National Survey of Construction Companies (ENEC) collects data on production, employment, and wages in construction companies. It allows for monthly performance analysis of this key activity for investment and employment.
Thursday, September 26: US GDP
- US GDP (2Q 2025)
On Thursday, a revised second-quarter US GDP report will be released. This indicator measures the economic growth of the world’s largest economy, providing a crucial determinant for global economic trajectory forecasts, Federal Reserve decisions, and their impact on capital flows to emerging economies.
Friday, September 27: Trade Balance
- Mexico’s Merchandise Trade Balance (August)
On Friday, the Inegi will publish the initial August trade balance figures, showing the difference between Mexico’s exports and imports of goods. This report allows for evaluating Mexico’s competitiveness and the impact of global trade. A surplus indicates a stronger position for exports, while a deficit suggests the opposite. It also reflects industrial trends.
