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Mexico economic activity picks up in January

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Christian Fernsby |
Mexico street
Europe   Economic activity grew 1.3% over the same month last year in January

Economic activity regained lost steam at the start of 2019.

According to the National Statistical Institute (INEGI), economic activity grew 1.3% over the same month last year in January, a notable improvement from December’s flat growth.

January’s upturn was driven by a rebound in services-sector growth and a more moderate fall in industrial-sector activity.

Annual average growth in economic activity, meanwhile, was unchanged at December’s 1.9% in January.

On a sequential basis, economic activity grew 0.2% month-on-month in seasonally-adjusted terms, contrasting December’s 0.4% fall.

Panelists participating in the LatinFocus Consensus Forecast expect growth of 1.8% in 2019, which is unchanged from last month’s forecast.

For 2020, growth is projected to pick up to 2.0%.

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