Mexico: Economic activity picks up in January
March 26, 2019
Economic activity regained lost steam at the start of 2019. According to the National Statistical Institute (INEGI), economic activity grew 1.3% over the same month last year in January, a notable improvement from December’s flat growth. January’s upturn was driven by a rebound in services-sector growth and a more moderate fall in industrial-sector activity.
Annual average growth in economic activity, meanwhile, was unchanged at December’s 1.9% in January. On a sequential basis, economic activity grew 0.2% month-on-month in seasonally-adjusted terms, contrasting December’s 0.4% fall.
Mexico GDP Forecast
Panelists participating in the LatinFocus Consensus Forecast expect growth of 1.8% in 2019, which is unchanged from last month’s forecast. For 2020, growth is projected to pick up to 2.0%.