The Global Indicator of Economic Activity (IGAE) , which allows us to know and monitor the evolution of the real sector of the economy in the short term, registered a monthly growth of 0.4% in November 2024, driven mainly by trade and services, according to what the National Institute of Statistics and Geography (Inegi) announced this Friday ,

On an annual basis, the IGAE increased by 0.9% , according to seasonally adjusted figures, the agency added in a statement.

By component of said indicator, at a monthly rate, tertiary activities , which include services such as commerce, transportation and communications, education and health, had an increase of 0.5% in the reference period.

Secondary activities , which include manufacturing and construction, also showed a monthly increase of 0.1% . In contrast, primary activities , which include agriculture, mining and fishing, fell by 1.4% on a monthly basis .

On an annual basis, Inegi reported that tertiary activities increased by 2% and primary activities by 1.1 percent. Meanwhile, secondary activities fell by 0.9 percent.

Among the subsectors with the greatest dynamism in the period is retail trade , which grew 0.6% monthly and 4.7% annually , while transport , mail and storage increased 0.9% monthly and 4.4% annually . In turn, construction fell 1.8% monthly and 4.4% annually .

These figures come after inflation fell in the first half of 2025, reaching 3.69%annually, slightly below the forecast of the financial institution Ve por más , which was 3.74% and 3.72% of the consensus.

According to his analysis, year-on-year inflation eased again as some of the last pressures on agricultural goods dissipated. “The underlying inflation accelerated in three consecutive fortnights of increases, with the merchandise category showing an incipient reversal,” he stressed.

He noted that price growth was the lowest in five years for the first half of January, due to the decline in the non-core index, particularly in fresh foods. “The decline in tourism-related services was due to seasonal effects, due to the end of the holiday period,” he said.

According to IGAE figures, the growth in economic activity in November 2024 was due to various factors, including a slight recovery in domestic consumption , driven by the holiday season.

However, some subsectors such as construction continue to present challenges, largely due to the completion of some flagship projects of the previous federal administration.

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