Mexico's economic activity expanded 0.3 percent from a year earlier in July 2019, rebounding from a 0.9 percent contraction in the previous month and beating market consensus of a 0.2 percent growth. Primary activities advanced 4.1 percent, faster than a 2.5 percent rise in June and the tertiary sector grew 1.2 percent, after shrinking 0.2 percent. Additionally, secondary output contracted 1.7 percent, less than a 2.9 percent decline in the prior month. On a seasonally adjusted monthly basis, economic activity shrank 0.1 percent, following a 0.2 percent expansion in June. Leading Economic Index in Mexico averaged 2.40 percent from 1994 until 2019, reaching an all time high of 12.60 percent in October of 1996 and a record low of -11 percent in April of 2009.
Leading Economic Index in Mexico is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Mexico to stand at 1.50 in 12 months time. In the long-term, the Mexico Overall Index of Economic Activity is projected to trend around 2.00 percent in 2020, according to our econometric models.