Mexico: Economic activity disappoints in February
Latest reading: Economic activity increased 0.1% on a seasonally adjusted month-on-month basis in February, following a 0.7% fall in the previous month but well below expectations.
Relative to the prior month’s figures, readings in February improved for the services sector (-0.1% in seasonally adjusted month-on-month terms vs -0.6% in January), the industrial sector (+0.4% vs -1.1% in January) and the primary sector (-0.3% vs -3.7% in January).
On a year-on-year basis, economic activity declined 0.3% in February, stable from the prior month’s reading and contrasting market expectations for expansion.