Coverage window:1–15 January 2026 • A constructive macro backdrop: inflation closed 2025 at a five-year low on the headline, supporting planning confidence into Q1. • Industry is showing early-year “green shoots”: November industrial output rose again month-on-month, with manufacturing turning…
Coverage window:15–31 December 2025 • Policy mix is shifting: monetary easing is underway, while trade policy turns more defensive to support domestic industry. • Inflation is calm on the headline, sticky underneath: core remains elevated enough to keep the easing…
Coverage:1–15 December 2025 • Policy stance is turning more interventionist: higher effective protection via tariff legislation and a step-up in statutory labour costs via the 2026 minimum wage decision. • Inflation re-accelerated in November: the headline remains within range, but…
Coverage:1–15 November 2025 • Manufacturing sentiment improved on expectations: the official Manufacturing Orders Indicator (IPM) rebounded above 50 in October, signalling an expansionary tilt in orders and production expectations—though hiring indicators remain softer. • Policy easing is now explicit: Banxico…
Coverage:16–31 October 2025 • US tariff risk remains a live variable for industry: the “paused” escalation to 30% keeps compliance (USMCA rules of origin) and pricing strategy front-of-mind for exporters. • Inflation is behaving, but not uniformly: headline moderation continues,…
Coverage:16–30 November 2025 • Industrial slowdown is real, but stabilisation signals are emerging: Q3 GDP confirmed a contraction led by “secondary” activities, while October’s nowcast points to flatline. • External accounts improved on the back of non-oil trade: October swung…