Mexico City. Private consumption in Mexico slowed its growth during August, reported the National Institute of Statistics and Geography (Inegi).
The Inegi published this morning the Monthly Indicator of Private Consumption (IMCP), which evaluated that the spending carried out by companies, families and individuals in Mexico, and showed an increase of 0.2 percent monthly in August, after the advance of 0.9 percent previous monthly.
According to Inegi, for August 2024, the IMPC stood at 112.4 points, its best level since March of this year, which represented an annual increase of 2.8 percent, after the previous 3.4 percent annual increase.
The IMPC data was in line with the Timely Indicator of Private Consumption (IOCP), which Inegi calculated a few weeks ago, where it estimated that private consumption in Mexico had grown 0.2 percent monthly in August.
The Timely Indicator of Private Consumption (IOCP), calculated by the National Institute of Statistics and Geography (Inegi), estimated that private consumption in Mexico could not maintain its growth rate during August, causing a slowdown in the last 12 months , since it estimated a growth of 2.7 percent annually.
By component, in the eighth month of 2024 and with seasonally adjusted data, to make the periods more comparable, the consumption of national goods grew 0.2 percent monthly in August; while imported goods advanced 0.8 percent monthly, which showed a slowdown compared to the previous data of 3.9 percent. In its annual measurement, national ones grew 1.8 percent and imported ones 11.8 percent.
Faced with a slowdown in the Mexican economy, private consumption showed a slowdown again, after the sluggishness that had fallen at the end of the first half of the year, although analysts considered that it would not be sustained in the coming months.
And the IOCP predicts that private consumption fell 0.1 percent monthly in September; and an annual advance of 1.8 percent.
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