The economic activity it contracted for the second month in a row. According to National Institute of Statistic and Geography (Inegi), in the national month the economy contracted 0.4% in monthly comparison, with seasonally adjusted figures.
With this result, the Global Indicator of Economic Activity (IGAE), which monitors the monthly mexican economy, registered two months of contractions since in August the data was a negative rate of 1.2 percent.
The data was contrary to what Inegi himself predicted through the Timely Indicator of Economic Activity (IOAE), which had shown a monthly growth of 0.3% in September.
After dealing with a third wave of Covid in August, in the national month Mexico began to lower the contagion curve, which allowed to relax, again, the measures against the Covid-19.
By economic activity group, contractions were observed in all three activities, which contributed to the general contraction of the economy.
Primary activities, which encompass the agricultural sector, contracted 1.4% per month, as did the industrial sector.
Meanwhile, tertiary activities reported a negative rate of 0.3% per month.
In this way, the GDP for the third quarter of the year showed a contraction of 0.4% compared to the previous quarter, according to the data released this Thursday by Inegi.
Reference-www.eleconomista.com.mx