Mexico's Manufacturing Shrinks 1.8% in January as Truck Production Halves in February

Mexico's manufacturing output fell 1.8% in January 2026, the first consecutive decline since 2015, impacting jobs and hours worked amid U.S. tariff pressures. In February, the heavy-vehicle sector plunged nearly 50% in production, reflecting weakened U.S. exports that dominate shipments. This signals deepening challenges for Mexico's export-driven industry, with future recovery hinging on improving freight activity and competition.