The Mexican economy gave signs that growth will be maintained towards the end of last year and the beginning of 2024, reported the National Institute of Statistics and Geography (Inegi).
According to Cyclical Indicator System (SIC), The leading indicator, which suggests the behavior of the economy in the short term, was positioned above its long-term trend, presenting a value of 100.3 points and a variation of 0.01 points in November in relation to October of last year .
With this result, the leading indicator showed its first advance after three consecutive months of declines.
In detail, the improvement of the indicator was driven by an increase in business confidence: right time to invest, with 0.01 points; of the Index of Prices and Quotes (IPC), of 0.02 points; of the S&P 500, American stock index, with an advance of 0.1 points.
While the bilateral real exchange rate Mexico united states There were changes in November, compared to the previous month.
“The estimate of the leading indicator for November 2023 corrected the most recent downward trend that was seen in the previous estimate, marginally improving the outlook for the Mexican economy in the immediate future,” he commented. Julio Santaella, former president of INEGI on his Twitter account.
For its part, the coincident indicator, which reflects the behavior of the current economy, was located above its long-term trend, registering a value of 100.99 points in October 2023 and a growth of 0.02 points with respect to the month former.
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This result was due to the positive performance of three of its six components. The favorable performance of the industrial activity indicator (0.17 points); Global Indicator of the Economic activity (Igae), an advance of 0.14 points and the unemployment rate with 0.03 percent.
On the contrary, insured permanent workers in the IMSS fell (0.02 points), total imports and retail income inhibited better behavior of the coincident indicator, falling 0.13 and 0.03 points, respectively.