Formal employment has shown uneven behavior in various regions of Mexico. According to recent data, Hidalgo, State of Mexico, Chiapas, and Nuevo León have been the most benefited states in terms of job creation. Although a possible slowdown is expected in the coming months, it is projected that the wage mass at the national level will remain positive due to increases in real wages.
Regarding the commercial sector, sales in grocery and food stores have experienced a growth of 2.1% in December compared to the previous month and 10.4% compared to the previous year. On the other hand, online commerce has maintained a monthly growth rate of 1.5% and an annual rate of 6.6%, showing positive behavior despite the current context.
It is important to note that, amid the current uncertainty, it is essential to analyze in detail the performance of each sector, branch, or region, as significant contrasts are expected throughout the year. Although sectors like industry have been impacted by uncertainty, commerce and services related to the domestic market have maintained positive performance.
In terms of the regional economy, states such as Tabasco, Campeche, Zacatecas, and Baja California have experienced greater losses. During the last phase of 2024, manufacturing was one of the most affected sectors. However, activities such as retail, tourism, and telecommunications managed to maintain positive growth in the tertiary sector.
The agricultural sector has faced challenges due to adverse climate factors. According to INEGI data, in the last quarter of 2024, the Mexican economy experienced a contraction of 0.6% compared to the previous quarter, equivalent to a loss of 206 billion pesos.
In sectoral terms, while the tertiary sector remained in positive territory, the agricultural and industrial sectors showed setbacks. Agriculture suffered a collapse of 8.5%, while industry recorded a decline of 1.5%, with the latter being the main factor in poor economic performance due to its weight in the economy.
These results mark the first setback in the Mexican economy in more than three years, highlighting the complexity of the current situation. Construction, for its part, has been a sector that has dragged down the industry with weak performance throughout the previous year.
