Macro Analysis /
Global

Mexico: Timely Indicator of Economic Activity – Deceleration in 3Q21

  • August’s estimate was revised higher to 0.0% m/m (+6.2% y/y sa), with additional strength in industry and services

  • September’s forecast implies a 0.1% m/m increase (+5.0% y/y sa), with a slight uptick in services but a decline in IP

  • These imply that GDP grew close to 0.6% q/q in 3Q21, signaling that the recovery extended at a more modest pace

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
20 October 2021
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