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Mexico Economic Activity June 2020

Mexico: Economic activity grows at quickest pace on record in June

The monthly indicator for economic activity (IGAE) surged 8.9% month-on-month in seasonally-adjusted terms in June, which contrasted May’s 2.4% decrease. The reading marked the strongest rise on record.

June’s upturn largely reflected the gradual easing of Covid-19 containment measures which kicked in during the second half of May, and was primarily driven by a strong rebound in services activity and industrial output.

On an annual basis, economic activity plunged 13.2% in June (May: -22.7% yoy). Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 5.1% in June, down from May’s minus 4.2%.

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