The Timely Indicator of Economic Activity (IOAE) estimated in advance a year-on-year decrease of 0.2% in global activity during the last month of 2021. In November, the IOAE showed a growth of 1.2% compared to the same month of 2020.
Janneth Quiroz, deputy director of Economic Analysis at Grupo Financiero Monex, noted that, if the preliminary data is confirmed, Mexico’s Gross Domestic Product would have fallen 0.2%, at an annual rate, in the fourth quarter of 2021.
🇲🇽 In December 2021 and at an annual rate, the Timely Indicator of Economic Activity #IOAE estimates in advance a decrease in the IGAE of 0.2%. While, in November, it estimates an increase of 0.2%. Assuming these estimates, GDP in 4Q-21 would have fallen 0.2% y/y. pic.twitter.com/wRyJcgtzKa
– Janneth Quiroz Zamora (@Janneth_QuirozZ)
January 18, 2022
With 5 weeks in advance, the IOAE estimates how the Global Indicator of Economic Activity (IGAE) will behave, which, in turn, works as an approximation of the changes that the monthly Gross Domestic Product will have.
In its report on Tuesday, the Inegi indicated that secondary activities would have presented an increase of 0.4% last month in the year-on-year comparison, while tertiary activities would have dropped 1.3%.
The Mexican economy suffered an 8.5% drop in 2020, its worst performance since the 1930s. However, the recovery has lost momentum in recent months due to global supply chain bottlenecks hampering activity. of the companies.
With information from Reuters.