Mexico: Economic activity rebounds in August
The monthly indicator for economic activity (IGAE) advanced 0.1% in seasonally-adjusted, month-on-month terms in August, rebounding from July’s revised 0.2% slip (previously reported: -0.1% month-on-month).
August’s print mainly reflected a healthy expansion of the industrial sector, which more than offset a marked drop in primary-sector activity. Meanwhile, activity in the services sector stagnated from July.
On a year-on-year basis, economic activity dipped 0.9% in August, contrasting July’s 0.3% increase. Lastly, annual average growth in economic activity edged down to 0.6% from 0.8% in the previous month.