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LatinNews Daily - 26 October 2021

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In brief: Mexico’s economic activity slows

* Mexico’s national statistics institute (Inegi) has released the latest figures for its monthly global indicator of economic activity (Igae), which show that economic activity declined 1.6% in seasonally-adjusted terms in August 2021 compared with the previous month. The latest figures show the primary sector (agriculture) declined 2.4% in seasonally-adjusted terms and the tertiary sector (services) contracted 2.5%, while the secondary sector (industry) increased 0.4%. Non-seasonally adjusted figures showed that Mexico’s economic activity grew 4.3% in August compared with the same month in 2020, with the primary sector expanding 0.5%, the secondary sector by 5.5%, and the tertiary sector by 3.8%. Inegi director Julio Santaella tweeted that this decline is the second in three months while Jonathan Heath, the deputy governor of Mexico’s central bank (Banxico), tweeted that the Igae figure is “bad news”.