Economic activity of Mexico grew by 2.6% in December compared with the same month of the previous year, according to preliminary data published on Tuesday by the National Institute of Statistics and Geography (Inegi).
The Timely Indicator of Economic Activity (IOAE) assesses the state of the economy in advance of the release of the Global Indicator of Economic Activity (IGAE), a benchmark for monthly gross domestic product (GDP).
In turn, the IGAE is a preliminary indicator of various sectors that shows the trend or direction that the Mexican economy will have in the short term. This and its economic activities are announced approximately eight weeks after the IOAE.
The national statistics agency therefore expects in the IOAE that in the penultimate month of 2023, the Mexican economy will grow slightly, amounting to 0.1% compared to November.
The report, released on Tuesday, noted monthly growth of 0.1% in the secondary sector (mining, construction, manufacturing, etc.).
For tertiary activities (trade, tourism, communications, etc.), this figure remained unchanged compared to the previous month.
Compared to the same period in 2022, the indicator estimates Mexico’s economy will grow by 2.6%. The expected annual change in secondary activity is 2.7% and tertiary activity is 2.2%.
Source: Aristegui Noticias
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