Mexico Economic Activity December 2018


Mexico: Economic activity slams the brakes in December

February 25, 2019

Economic activity was flat year-on-year in December, screeching to a halt on the heels of November’s 1.8% increase. According to the National Statistical Institute (INEGI), December’s reading saw strong agricultural- and modest services-sector gains offset entirely by losses within the industrial sector. Although, broadly, industrial-sector activity remained in the doldrums, analysts were quick to point out manufacturing’s weakness through last year-end. Annual average growth in economic activity, meanwhile, ticked down to 1.9% from 2.0% in November.

Economic activity slumped 0.4% month-on-month and in seasonally-adjusted terms, contrasting November’s 0.4% pickup.

Banxico expects growth of 1.7%–2.7% this year. Panelists participating in the LatinFocus Consensus Forecast expect growth of 1.9% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, growth is projected to pick up to 2.0%.


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Mexico Economic Activity Chart

Mexico Economic Activity December 2018

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

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