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Mexico Economic Activity November 2021

Mexico: Economic activity grows at quickest pace since May in November

The monthly indicator for economic activity (IGAE) rose 0.3% month-on-month in seasonally-adjusted terms in November (October: -0.2% mom). The print marked the best result since May. November’s pickup was largely due to rebounds in the primary and services sectors. In contrast, the industrial sector weakened.

On an annual basis, economic activity rose 1.7% in November, which was notably better than October’s 0.6% fall. Accordingly, annual average economic activity growth rose to 4.5% in November (October: +3.9%), pointing to an improving trend.

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