Mexico: Economic activity recovers slightly in November
January 24, 2020
The monthly indicator for economic activity (IGAE) advanced 0.1% in seasonally-adjusted, month-on-month terms in November 2019, rebounding from October’s revised 0.4% fall (previously reported: -0.5% month-on-month; s.a.).
November’s print reflected a mixed performance across the major sectors. Although primary-sector activity contracted from October, the industrial sector grew modestly. Meanwhile, activity in the services sector stagnated in the month.
On a year-on-year basis, economic activity dipped 1.2% in November, more sharply than October’s 0.7% slip. Lastly, the annual average variation in economic activity fell to a 0.2% contraction from flat growth in October.
Author: Javier Colato, Economist