Mexico's economic activity shrank 9.8 percent year-on-year in July 2020, following a downwardly revised 13.3 percent contraction in the previous month and compared with market expectations of a 10 percent decline, amid the easing of coronavirus lockdown restrictions. Output shrank less in secondary activities (-11.4% vs -16.7% in June), in particular manufacturing (-9% vs -16.4%), construction (-23.5% vs -26.2%), utilities (-8.9% vs -13.4%) and mining (-3.1% vs -5.1%). Also, the services sector contracted at a softer pace (-10.1% vs -12.3%), of which retail trade (-8.1% vs -17.9%), transportation & storage (-21.9% vs -23.3%), accommodation & food (-61.4% vs -68.7%), recreation & culture (-19.6% vs -28.3%) and professional services (0.8% vs -8.3%). Additionally, primary activities grew 11%, recovering from a 2% contraction in June. On a seasonally adjusted monthly basis, economic activity expanded 5.7%, after rising 8.8% in the prior month and beating forecasts of a 5.2% gain.
Leading Economic Index in Mexico averaged 2.11 percent from 1994 until 2020, reaching an all time high of 12.60 percent in October of 1996 and a record low of -22.70 percent in May of 2020. This page provides the latest reported value for - Mexico Overall Index of Economic Activity - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Overall Index of Economic Activity - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Instituto Nacional de Estadistica, Geografia e Informatica, Mexico
Leading Economic Index in Mexico is expected to be -2.50 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 7.50 in 12 months time. In the long-term, the Mexico Overall Index of Economic Activity is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.