The economic activity in Mexico broke the losing streak he offered for three consecutive months and in November, amid the so-called. Good endhas managed to offer a growth in monthly comparison, the National Institute of Statistics and Geography revealed (inegi).
The Global indicator of economic activity (IGAE), which monitors the economy on a monthly basis, reported a growth rate of 0.3% per month in the penultimate month of 2021, with seasonally adjusted figures.
Although it broke the line of three consecutive months with contractions, the final data is lower than the Inegi previously had by the Timely indicator of economic activity (IOAE), by 0.6% monthly.
“This indicates that the economy has remained in a difficult situation despite better virus conditions that have led to improved fundamentals and other marginal gains. We believe that the largest number of restrictions are still associated with the pandemic, including the increasing uncertainty, supply constraints and price pressure, among others, ”said strategists from Banorte.
In annual comparison, the economy showed a growth of 0.3 percent.
Primary activities drive
Within the report of inegi It was observed that the highest monthly growth occurred in primary activities, i.e. those related to agriculture, fishing, hunting and the like. This sector showed a growth of 7.2% compared to October.
Meanwhile, the services sector has also shown growth, albeit more moderately. In November, tertiary activities showed a growth rate of 0.5%, after seven consecutive months of contractions.
Within this, professional, scientific and technical services were the ones that offered the largest expansion, of 5.0% per month, while educational services fell by 0.1 per cent.
In the case of the secondary sector, it registered a decrease of 0.1%, explained by the monthly decrease of 1.2% in the generation, transmission and distribution of electricity, water and gas, as well as 0.6% in the construction industry.
Reference-www.eleconomista.com.mx