The Cyclical Indicators System, prepared by the National Institute of Statistics and Geography (Inegi) showed, in its most recent reading, a lower dynamism of the Mexican economy, which is congruent with the third quarter GDP results that the institute revealed in past days.
The Coincident Indicator, which reflects the general state of the economy, continued to be below its long-term trend with 99.5 points in September; However, it showed a growth of 0.03 points compared to the previous month.
In this way, it spun 16 months with a positive trend, that is to say, growth.
Only two components of this indicator showed increases. The most significant was in the Insured Permanent Workers in the IMSS, which showed an advance of 0.32 points, while Total Imports increased 0.05 points.
In contrast, the Global Economic Activity Indicator was the component that fell the most in the ninth month of the year in this indicator, with 0.26 points. With this, it registered five consecutive months of setbacks.
In the case of the Leading Indicator, in October it added three consecutive months of setbacks.
In the month, it fell 0.08 points to settle at 101.5 points; however, it is still above its long-term trend.
“The adjustment in the estimation of the Leading Indicator for October 2021 resulted in a moderation in the positive signal for the growth of the Mexican economy,” Julio Santaella, president of Inegi, said in his networks.
Within this indicator, only the Employment Trend in Manufacturing showed a decline of 0.16 points, while the Price and Quotation Index of the Mexican Stock Exchange did not show any variation and the Interbank Interest Rate increased 0.22 points.
Reference-www.eleconomista.com.mx