Mexico construction output up 7.9% in August 2026

Mexican construction grew 7.9% year on year in August 2026, but roads and utilities led while homebuilding lagged, so entry prices stay firm.

The facts

• INEGI, Mexico's statistics institute, published its monthly industrial activity index on 12 October 2026, for August 2026.
• Construction output rose +7.9% from August 2025 in seasonally adjusted terms, and was unchanged at 0.0% from July 2026.
• Unadjusted, construction was up 7.5% on the year: civil engineering works up 17.6%, building up 7.0%, specialised construction trades down 1.2%.
• Total industrial activity rose 0.6% on the month and 3.6% on the year.
• National asking prices stood at 32,394 MXN per square metre in August 2026, 4.4% higher than a year earlier.
• The next index, covering September, is due on 11 November 2026.

What it means for your money

• Mexico is building more, but the growth is in roads and utilities, not homes. Entry prices are not about to ease.
• Building, at 7.0%, grows at under half the 17.6% pace of civil engineering, so the slower half of the pipeline is the one that becomes apartments, while asking prices still rose 4.4%.
• For an owner already there, the 1.2% fall in specialised trades points to spare renovation capacity, so refurbishment quotes should not jump.

What to watch

• Whether building closes the gap on civil engineering in the September index, due on 11 November 2026.
• The flat 0.0% month: one unchanged reading after 7.9% annual growth is not a turn, and INEGI revises these series.
• Civil engineering's 17.6% rests on public works, so it tracks state budgets rather than private housing demand.

Sources: Instituto Nacional de Estadistica y Geografia (INEGI), Indicador Mensual de la Actividad Industrial, boletin 623/26, 12 de octubre de 2026 https://www.inegi.org.mx/contenidos/saladeprensa/boletines/2026/imai/imai2026_10.pdf

Market data: Mexico · Mexico City