The timely indicator of economic activity (Ioae) predicts that the Mexican economy reported an improvement in August, mainly thanks to the services sector, revealed the National Institute of Statistics and Geography (Inegi).
The Ioae estimated that the global indicator of economic activity (IGAE), a reference for the monthly gross domestic product (GDP), grew 0.3 percent in August compared to last July; while for July it advanced 0.1 percent monthly and grew 1.1 percent annually in both July and August, with seasonally adjusted figures.
The modest improvement observed in August was the result of the 0.4 percent monthly advance in tertiary activity (services and commerce), after the 0.1 percent contraction in July, as forecast by the Ioae.
Meanwhile, the industrial sector (secondary activity), after an advance of 0.2 percent the previous month, in the eighth month of the year reported a monthly growth of 0.3 percent.
Thus, in its annual comparison, an increase of 0.7 percent is expected in August in secondary activities and 1.5 percent in tertiary activities. Estimates refer to seasonally adjusted figures.
The Ioae, which estimates in advance the performance of the Mexican economy before the publication of the global indicator of economic activity, better known as IGAE, a reference for monthly GDP, anticipated a moderate advance in August; That is to say, the national economy, although at a more moderate rate, continues to grow, hence an economic recession is not expected this year.
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– 2024-09-28 15:16:42
