The National
Institute of Statistics and Geography (Instituto Nacional de Estadística y
Geografía, INEGI) announced on Monday that Mexico’s economic activity contracted
0.7 per cent m-o-m in October after an unrevised 0.2 per cent m-o-m expansion
in September. This represented the steepest monthly shrinkage in economic activity since January (-0.7 per cent
m-o-m).
On a y-o-y
basis, however, the country’s economic activity grew 0.7 per cent in October, following
an unrevised 0.3 per cent advance in the previous month. Overall, this marked the fourth consecutive annual expansion.