Mexico: 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

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