[]
The marginal advance of just 0.1% of private consumption during June was not enough to avoid a quarterly fall, estimated a financial analysis of Citibanamex.
The study of Rodolfo Ostoloazathe bank’s chief economist, explained that a -0.6% decline in consumption was recorded in the second quarter of 2024.
During July the unemployment rate stood at 2.7% of the population. Economically Active Population (PEA), the same level as a month earlier, with seasonally adjusted figures.
He added that in the first quarter of the year, the Gross Added Value (VAB) of the informal economy increased 3.8% annually in real terms, where the greatest growth was observed in Campeche (25%), Quintana Roo (16%) and Sinaloa (13.6%).
Citibanamex highlighted that in the same period, the total number of paid jobs in economic activities was 39.5 million, which represented an annual growth of 1.8%. The entities with the largest increases were: Quintana Roo (9.2%).
“Going forward, we expect private consumption to remain moderate, given expectations of a slack in the labor market, the observed depreciation of the exchange rate, which makes imported goods more expensive in national currency, and restrictive financial conditions.”
Related
2024-09-11 01:21:43