In July the IGAE shows an unexpected positive annual performance (2.5% YoY, sa)

According to INEGI, Mexico's July the Global Economic Activity Indicator (IGAE) expanded 2.5% YoY sa. This increase, slightly above our estimation (BBVA Research: 2.1% YoY, sa), was equivalent to 0.4% MoM sa. This performance was driven by a YoY increase in Agriculture (6.8%, sa), Services (2.6%, sa) and Industry (2.0%, sa).

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