Economy would come out of stagnation with a modest advance of 0.1% in October

During October 2022, the Mexican economy would be coming out of the previous stagnation with modest growth of 0.1%, according to preliminary figures from the IOAE (Timely Indicator of Economic Activity) published by the Inegi.

This small jump would be driven by slight advances both in secondary activities (manufacturing, mining, electricity and other industries) and in tertiary activities (commerce and services). Both sectors would be registering an increase of 0.1 percent.

The estimates produced by this indicator suggest that in September economic activity in Mexico would be stagnant at 0 percent. On the other hand, the revised figures showed that August was a good month and surprised with a monthly growth of 1.0%, above the IOAE projections.

Although the dynamism has remained on the brakes, the Mexican economy has avoided contractions, particularly in the second half of 2022.

The IOAE reflected that in year-on-year comparison, the mexican economy continues to show positive results. During this tenth month of the year, the activity would be growing 5.0% in relation to the same month last year.

A few months before the end of the year, specialists and international institutions project that Mexico will close the year with a growth of between 1.8 and 2.4 percent.