Mexico: Economic activity bounces back in June
August 23, 2019
The monthly indicator for economic activity (IGAE, Indicador Global de la Actividad Económica) advanced 0.2% in seasonally-adjusted, month-on-month terms in June, following May’s flat reading.
June’s result chiefly reflected a healthy expansion of the industrial sector, which more than offset a marked fall in primary-sector activity. Meanwhile, activity in the services sector stagnated.
On a year-on-year basis, economic activity slid 0.9% in June, more sharply than May’s 0.4% dip. Lastly, annual average growth in economic activity edged down from 1.2% in May to 1.0% in June.
Author: Javier Colato, Economist