México Actividad económica February 2023

México: Economic activity growth ebbs in February

The monthly indicator for economic activity (IGAE) rose 0.1% in month-on-month seasonally-adjusted terms in February, which was a deterioration from January’s 0.6% increase. The slowdown was largely driven by a deterioration in the services sector. In contrast, the industrial sector rebounded.

On an annual basis, economic activity grew 3.8% in February, which was below January’s 4.5% expansion. Meanwhile, the trend improved, with the annual average growth of economic activity coming in at 3.2% in February, up from January’s 3.1% reading.