Mexico Economic Activity October 2018


Mexico: Economic activity picks up in October

December 21, 2018

Economic activity rose 2.9% year-on-year in October, picking up from 2.1% in September. According to the National Statistical Institute (INEGI), October’s reading was driven by almost entirely by gains in services-sector activity. Agricultural-sector activity, meanwhile, lost ground on an annual basis.

Economic activity fell 0.3% month-on-month and in seasonally-adjusted terms, contrasting September’s 0.3% outturn.

Banxico expects growth of 1.8%–2.8% this year. Panelists participating in the LatinFocus Consensus Forecast expect growth of 2.1% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, growth is projected to pick up to 2.2%.


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Mexico Economic Activity Chart

Mexico Economic Activity October 2018

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Mexico National Statistics Institute (INEGI)

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