Mexico's economic activity annually rises 1% in August

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's economic activity in August rose 1% in real terms at an annual rate with a seasonally adjusted series, the country's statistical authority announced Tuesday.

The market expectation of the figure was to show a 0.9% decrease, following the year-on-year gain of 3.8% in July.

Annually, primary and secondary activities showed declines of 2.1% and 0.3%, but tertiary activities increased 2.2%, the National Institute of Statistics and Geography (INEGI) said in a statement.

On a monthly basis, economic activity posted a 0.3% decline in August, compared to the previous month.

That figure showed a monthly gain of 0.6% in July.

In August, primary activities fell 9.1% and secondary activities decreased 0.5%, while tertiary activities grew 0.3%, according to INEGI.