What changed
2026-07-28 22:36 UTC → 2026-07-30 13:12 UTC ·
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Mexico’s economy continued to falter in In late July 2026. 2026 Mexico’s economy showed only modest improvement. Real GDP growth remained modest held at 0.4 % year‑on‑year, while YoY and the policy rate was kept stayed at 6.50 %. The peso stayed volatile, trading around 17.5 MXN per US dollar; Banco de México reported 17.51 MXN/USD on 27 July, with commercial banks quoting 16.50–17.99 MXN. Inflation eased to 3.1 %, % but the slowdown in activity persisted. The remained sluggish, with the June 2026 ENOE labour survey confirmed rising confirming a rise in unemployment and persistently high informality. The economically active population was 61.9 million, with employment down by about 84 000 jobs and the open‑unemployment rate climbing from 2.7 % to 2.9 %. Labour‑force participation fell to 58.8 % and informal work a labour‑force participation of 58.8 %. Informal employment still accounted for roughly 55 % of all jobs (≈33 million workers). Service‑sector employment dominated at 64.5 % of the workforce. jobs. Tourism linked to the 2026 FIFA World Cup fell dramatically short of government expectations. Independent Deloitte analysis estimated the tournament added only about 500 000 additional visitors – 198 000 foreign tourists and 296 000 domestic travellers – roughly 10 % of the government’s 5‑million target. Hotel occupancy dropped plunged 56 % in Mexico City and saw similar declines fell in Guadalajara, while Monterrey recorded saw a 64 % rise. The tournament event generated an estimated US$2.5 billion economic spill‑over, comparable to half a month of Mexico’s annual remittances. remittances, and attracted 6.8 million stadium spectators with fan festivals drawing over nine million visitors. The Mexican peso remained volatile. On 27 July the official rate was 17.51 MXN/$, with market quotes ranging from 16.45 to 17.99 MXN/$ on 29 July. By the end of the month the peso hovered between 17.44 and 17.49 per dollar after three sessions of modest gains, reflecting the impact of a flat U.S. Federal Reserve rate decision, rising oil prices linked to Middle‑East tensions, and political uncertainty surrounding the T‑MEC trade pact. Moody’s and S&P maintained downgraded kept Mexico’s sovereign ratings downgraded after the U.S. moved the shifted T‑MEC pact to annual reviews, keeping leaving borrowing costs elevated. The auto sector showed mixed signals, with Freightliner cutting Coahuila output in Coahuila by 45 %.