Mexico: Economic activity stagnates at the turn of 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.