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Signs of Fatigue in the Economic Recovery – Agence SEO

The economic activity in Mexico remained in November last year in the deceleration path and experts warn the risk of a contraction due to the new restrictions on the increase in coronavirus infections.

He Global Index of Economic Activity of Mexico (IGAE) registered in the eleventh month of 2020 an increase of 0.9 percent in its monthly comparison, according to Inegi, which was its smallest increase since June.

At an annual rate, the IGAE registered a decrease of 3.5 percent, thus accumulating 17 months in negative territory.

“The monthly GDP (IGAE) slowed down in November. The industrial sector recovered, as construction made up for the null industry growth. Meanwhile, services they accelerated slightly, after the soft restrictions allowed a further recovery in commerce and hospitality, « he said. Joan Domene, Analyst for Oxford Economics.

He added that the stricter restrictions imposed in mid-December point to a contraction in the last month of 2020. “Available data point to slight upside risks for our forecast of GDP growth 2.8 percent in the fourth quarter and the general shrinkage of 8.7 percent in 2020 ”.

Jonathan Heath, deputy governor of Banco de México, published on his Twitter account that the advance in November was excellent news « as the appropriate indicators anticipate a rate close to zero and possibly even negative. »

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For its part, the value of production generated by construction companies in the country last November fell for the second consecutive month.

According to figures from Inegi, the value of production it fell 0.4 percent at the monthly rate, which represented its second consecutive month with falls.

In your annual comparison, the real value of production in construction companies it showed a negative variation of 23.8 percent.

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