Mexico Economic Activity November 2018


Mexico: Economic activity decelerates in November

January 24, 2019

Economic activity rose 1.8% year-on-year in November, easing from October’s 2.9% annual climb. According to the National Statistical Institute (INEGI), November’s reading was driven entirely by agricultural- and services-sector activity. Industrial-sector activity, on the other hand, appeared to lose ground on a drop in construction output.

Economic activity picked up 0.4% month-on-month and in seasonally-adjusted terms, contrasting October’s 0.3% slump.

Banxico expects growth of 1.8%–2.8% this year. Panelists participating in the LatinFocus Consensus Forecast expect growth of 2.0% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, growth is projected to pick up to 2.1%.


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Mexico Economic Activity Chart

Mexico Economic Activity November 2018

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Mexico National Statistical Institute (INEGI)

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