Mexico Economic Activity January 2020

Mexico

Mexico: Economic activity stagnates at the turn of 2020

March 26, 2020

The monthly indicator for economic activity (IGAE) flatlined in seasonally-adjusted, month-on-month terms in January, down from December’s 0.1% uptick.

January’s print reflected a fall in activity in the primary and secondary sectors being offset by a modest expansion of the industrial sector.

On a year-on-year basis, economic activity dipped 0.8% in January, contrasting the 0.7% rise logged in December. Lastly, the annual average variation in economic activity edged down to minus 0.3% from minus 0.1% in the final month of 2019.

Analysts participating in the LatinFocus Consensus Forecast expect growth of 0.6% in 2020, which is down 0.3 percentage points from last month’s forecast. For 2021, growth is projected to pick up to 1.6%.


Author:, Economist

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Mexico Economic Activity Chart


Mexico Economic Activity January 20 20

Note: Month-on-month (s.a.) and year-on-year changes of economic activity indicator in %.
Source: Mexico’s National Statistical Institute (INEGI)


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