Macro Analysis /
Global

IGAE – Modest rebound in July amid challenging pandemic conditions

  • The Global Economic Activity Indicator grew 0.5% m/m in July, not making up for the -1.1% seen in the previous month

  • We believe this suggests at least a slight impact from the ‘third wave’ of COVID-19, with a pause in the recovery

  • As epidemiological conditions have taken a turn for the better, we expect more dynamism in the latter part of the year

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
27 September 2021
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