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Mexico Economic Activity October 2020

Mexico: Economic activity growth picks up pace in October

The monthly indicator for economic activity (IGAE) rose 1.6% in month-on-month seasonally-adjusted terms in October, which was above September’s 1.2% uptick and the fifth consecutive monthly increase.

Looking at the details of the release, the industrial sector gained momentum, while the services sector increased at a softer pace in October.

On an annual basis, economic activity fell 5.3% in October (September: -5.4% yoy), the best result since March. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 7.5%, down from September’s minus 7.1% reading.

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