Mexican economic activity advanced 3.3% year-on-year in September, driven in particular by the industryas reported this Friday by the National Institute of Statistics and Geography (Inegi) based on original figures.
The Inegi indicated in a report that this rise in the global indicator of economic activity (IGAE) of Mexico is the result of the annual increase in all sectors: the primary (0.6%), the secondary (3.9%), and the tertiary (3.1%).
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Likewise, the IGAE rose 0.6% at a monthly rate, according to seasonally adjusted figures, without cyclical and calendar factors.
Compared to the previous month, industry grew by 0.2% and services by 0.9%, but the agricultural sector fell by 3%.
The IGAE is a preliminary indicator of different sectors that shows the trend or direction that the Mexican economy will have in the short term.
The September data is published on the same day that Inegi raised the final growth of the gross domestic product (GDP) to 1.1% quarterly. of the third quarter after estimating in October that it had grown 0.9%.
In the period from July to September, Mexican GDP increased 3.3% year-on-year, accumulating an increase of 3.4% so far this year.
The country had an annual growth of 3.9% in 2022 after the increase of 6.1% in 2021, according to updated figures from Inegi.
In addition to more than 7 million cases and more than 334,000 deaths, the Covid-19 crisis caused an 8.8% contraction of Mexico’s GDP in 2020, its worst decline since the Great Depression of 1932.
Mexico’s economy grew 2.1% in 2018, but contracted 0.3% in 2019.
The Government expects growth greater than 3% for this year.
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