Macro Analysis /
Global

Mexico: Timely Indicator of Economic Activity – Rebound after recent weakness

  • September’s estimate was mixed, with the monthly print higher to 0.3% m/m (+2.8% y/y sa), albeit due to a favorable base

  • October’s forecast implies a 0.6% m/m increase (+1.9% y/y sa), with progress in both industry and services

  • Figures suggest a more modest deceleration in 3Q21 GDP and point to a resumption of the recovery later in 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
18 November 2021
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