The Mexican economy continued to show solid growth in November 2023, marking its highest increase in eleven months, supported by the industrial and services sector, reported the National Institute of Statistics and Geography (Inegi).
According to the Timely Indicator of Economic Activity (IOAE), activity would have grown 4.2 percent in its annual comparison in the eleventh month of the year, its highest recorded since December 2022, when it rose 4.4 percent.
These results derive primarily from an expected increase in secondary activities of 5.1 percent (5.2 percent previously), accompanied by an increase of 3.7 percent (2.2 percent previously) in tertiary activities.
At a monthly rate, the IOAE anticipates that the IGAE would have grown 0.4 percent, adding eight consecutive months with increases.
Gabriela Siller, director of economic and financial analysis at Banco Base, assured that, in a more positive scenario, if economic activity continues the trend observed in 2023 and grows 0.32 percent in December, it would imply that the Gross Domestic Product (GDP) of the The fourth quarter would grow 0.98 percent quarterly and 3.60 percent annually, while in all of 2023 the GDP would grow 3.46 percent.
➡️ Read more about Business confidence improves in November
He added that the high growth has been due to greater consumption, driven by the rise in real wages, government transfers and remittances, followed by the rise in the gross accumulation of fixed capital, driven by the public works of this administration.
➡️ Join the El Sol de México channel on WhatsApp so you don’t miss the most important information
“Although growth is positive, it is not sustainable in the long term, since public finances are increasingly compromised and in 2025 there will be no fiscal space for large infrastructure works, which could generate collapses in the gross accumulation of fixed capital and quarterly falls in GDP,” he explained.
2023-12-19 16:45:13
#Economy #profiles #growth #November #Sol #México
