Mexico's economic activity rises 2.7% in November 2023

Economic activity, however, fell 0.5% on monthly basis, says statistical authority

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's economic activity in November 2023 rose 2.7% in real terms at an annual rate with seasonally adjusted series, the country's statistical authority announced Wednesday.

The figure, however, was lower than expectations of a 3.2% increase, after posting an annual gain of 4.4% in October.

Annually, secondary and tertiary activities increased 3% and 3.2%, respectively, but primary activities contracted 6.6%, the National Institute of Statistics and Geography (INEGI) said in a statement.

Economic activity decreased 0.5% in November, compared to the previous month.

The estimate for the figure was to show a monthly decline of 0.2%, after economic activity contracted 0.1% in October from September.

Monthly, primary and secondary activities fell 6.2% and 1%, respectively, and tertiary activities increased 0.2%, according to INEGI.

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