The economy in October would have stagnated by registering zero growth compared to the previous month, according to preliminary and seasonally adjusted data from Inegi.
The statistics institute reported this Thursday that the IOAE, an indicator that provides timely figures on the evolution of the Global Indicator of Economic Activity (IGAE), presented a percentage variation of zero compared to September, and the same compared to October of last year.
In addition, Inegi revised downwards its estimate of the behavior of the economy during September in its monthly comparison, as it deteriorated the 0.1% forecast published on October 21 to a contraction of 0.5%.
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For the Base financial group, this downward revision increases the probability that the contraction of GDP for the third quarter (0.3%) will also be revised downwards in the publication made by Inegi this Friday.
At an annual rate, the institute made a slight downward revision on September, going from a contraction of 0.6% to 0.7%.
The Timely Indicator of Economic Activity (IOAE) only measures secondary and tertiary activities.
In October, the secondary or industrial sector would have advanced just 0.1% compared to the previous month, and fell 2.1% compared to the same period last year.
Meanwhile, tertiary or commerce activities would have decreased 0.2% in their monthly comparison, and grew 0.9% at an annual rate.
The IGAE data for September will be published by Inegi this Friday, along with updated GDP information for the third quarter, while the October figures will be published on December 22.
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