Mexico City. The timely monthly indicator of manufacturing activity (Imoam) anticipated that the sector continued to grow in August, reported the National Institute of Statistics and Geography (Inegi).
For August 2024, the Imoam stood at 110.5 points, which pointed to an annual advance of 1.4 percent in manufacturing activity. This advance would come after the evolution of the country’s industrial activity, with seasonally adjusted figures, grew 0.6 percent annually last July, according to the Monthly Indicator of Industrial Activity (IMAI). Likewise, at a monthly level it advanced 0.2 percent in July.
The timely indicator had a range between a drop of 1.5 percent and a growth of 4.3 percent. The observed value for August will be known on October 11, with the monthly indicator of industrial activity (Imai).
And this Thursday, Inegi presented the timely monthly indicator of manufacturing activity, as an advance calculation of the monthly indicator of industrial activity in the manufacturing sector.
The slowdown in manufacturing production in Mexico materialized in an environment of lower growth in external demand, as indicated by the latest retail sales data in the United States that showed stagnation in June, with a 1.9 percent drop in the vehicle and auto parts segment (the largest contraction since January), while spending on durable goods in that country continues below its level at the beginning of the year (0.4 percent). However, for the seventh and eighth months of the year, a better international outlook is seen that can support the sector and partially recover from previous declines.
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