Mexico’s economy falls slightly in August
Mexico’s economic activity had a disappointing result in August since the good pace of the services sector wasn’t able to compensate the weakness of industry and agricultural activities.
Indicador Global de la Actividad Económica (IGAE) a timely measure of the country’s economic performance, decreased 0.1% in August to July, in seasonally adjusted terms, reported Instituto Nacional de Estadística y Geografía (INEGI).
IGAE had its second setback in the last three months and reversed the 0.5% advance recorded a month earlier.
For its part, in annual terms, Mexico’s economic activity increased 1.7% in August compared to the same month last year, its fifth annual increase followed, according to data from INEGI also known as the agency responsible for collecting economic and social figures of the country.
The last time that the IGAE reported a fall in annual terms was in March this year, when it fell 0.6% over the same month in 2017, according to figures from INEGI.