La Jornada – Economic activity decreased by 0.19 units in February, says Inegi

Mexico City. Activity levels are hindering the recovery of the Mexican economy, being the only component of 11 components recorded by the System of Periodic Indicators (SIC) during last February and March, according to the National Institute of Statistics and Geography (Inegi).

In February, the coincident index – which indicates the general state of the economy at the time the measure was incorporated – recorded increases in five of the six components that make up it.

The industrial activity index rose 0.27 points, and the income from the supply of goods and services in retail increased by 0.41; The number of permanent workers insured at the Mexican Social Security Institute grew by only 0.01, but they registered progress.

Imports increased by 0.42 points, and the unemployment rate decreased in cities by 0.19 points. Both are positive movements. However, the global index of economic activity decreased by 0.19 units per month, making it the only indicator down.

Balancing these detailed components, Inegi reported that the coincident index posted an advance of 0.19 units in February, as the economy accumulated two months of recovery.

While the leading indicator – which seeks to point in advance to turning points (peaks and valleys) by chance – accumulated 10 months of advance in March, when the rally was 0.26 units. Its five components recorded positive differences.

Employment trend in manufacturing advanced 0.21 points in March, business confidence around the right moment to invest rose another 0.26 points, the Mexican Stock Exchange (BMV) benchmark index rose 0.25 points, and the US stock index rose 0.25 units.

The peso-dollar exchange rate fell by 0.01 points and the interbank benchmark rate fell by 0.02, Inegi reported. Both are differences that pay for positive progression in the leading indicator.