Mexico's economic activity shrank 2.3% year-on-year in March of 2020, following a 0.6% fall in February and compared with market expectations of a 3.5% decline. It was the third consecutive contraction in economic activity and the steepest since October of 2009, reflecting the earliest signs of disruptions caused by the global pandemic. Output fell for secondary activities (-5% vs -2% in February), primarily manufacturing (.6.1% vs -1.2%) and construction (-7.5% vs -9%). The services sector also shrank (-1.4% vs 0.4%), in particular food & accommodation services (-26.4% vs 2.3%); recreation activities (-8.7% vs -1%); transportation & storage (-2.6% vs 1.3%); wholesale trade (-2.3% vs -5.7%) and retail trade (-0.9% vs 2.1%). In contrast, primary activities rebounded sharply (9.3% vs -6.5%). On a seasonally adjusted monthly basis, economic activity fell 1.3%, after an upwardly revised 0.6% decrease in February and compared with market consensus of a 2.3% contraction.
Leading Economic Index in Mexico averaged 2.31 percent from 1994 until 2020, reaching an all time high of 12.60 percent in October of 1996 and a record low of -11 percent in April of 2009. 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 May of 2020. source: Instituto Nacional de Estadistica, Geografia e Informatica, Mexico
Leading Economic Index in Mexico is expected to be -5.00 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 0.50 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.