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Mexico Economic Activity August 2023

Mexico: Economic activity growth speeds up in August

The monthly indicator for economic activity (IGAE) rose 0.4% in month-on-month seasonally-adjusted terms in August, which was above July’s 0.2% increase and beat market expectations. August’s reading was driven by rebounds in the services and primary sectors. In contrast, the industrial sector weakened.

On an annual basis, economic activity rose at a faster rate of 3.7% in August (July: +3.2% yoy). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 3.9%, down from July’s 4.1%.

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