Mexico Economic Activity June 2018

Mexico

Mexico: Economic activity eases in June

August 24, 2018

Economic activity grew 1.2% in June from the same month a year earlier, easing from the 2.2% year-on-year expansion logged in May. According to INEGI, June’s modest expansion was held back by a contraction in the agricultural sector (-4.3% year-on-year). Meanwhile, growth in the services sector moderated (+1.9% yoy) and the industrial sector grew only marginally (+0.2% yoy).

On a month-on-month basis, economic activity contracted 0.1% in seasonally-adjusted terms, contrasting the 0.5% expansion logged in May.

Banxico expects growth of 2.0%–3.0% in 2018 and 2.2%–3.2% in 2019. Panelists participating in the LatinFocus Consensus Forecast expect growth of 2.3% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, growth is also projected to pick up to 2.3%.


Author:, Economist

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Mexico Economic Activity June 2018

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


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