Macro Analysis /
GlobalMexico: Timely Indicator of Economic Activity – Slight setbacks in June and July
June’s estimate was revised upwards to -0.1% m/m (2.1% y/y sa), with adjustments higher in the two subsectors
July’s print also came in at -0.1% m/m (1.5% y/y sa), with industry at -0.2% and services falling -0.1%
These results suggest a slight downward revision to 2Q22 GDP, with an additional moderation in activity ahead
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
18 August 2022
Published byBanorte
