Mexico | Activity increased marginally, inflation sank to a new low

Summary

The monthly rise for the IGAE in May was 0.1%, in its seasonally adjusted series, which was slightly below our forecast (0.20% MoM, sa). This meant that the annual growth rate for May was 2.1% sa (BBVAe: 2.3%). As was expected, industry fell back by -0.4% MoM, sa, and the services sector saw MoM growth of 0.4%, while primary sector activity continued to grow (2.5% MoM)

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