Mexico | GDP grows 57.4% (annualized rate) in 3Q20 reaching 90.9% of its pre-COVID level

Summary

Economic activity regained ground in 3Q20 (12.0% QoQ, 57.4% at an annualized rate) after the reopening of activities that began in early June. With the momentum of the third quarter, the industry reaches 90.4% of its pre-COVID level, while the services sector 91.1%.

Key points

• Key points:
• The biggest boost comes from the industrial sector, which registers a growth of 121.5% at an annualized rate, while the services sector reports a variation of 39.1% in annualized terms
• Economic activity will lose dynamism in 4Q20 once the initial impulse from increased mobility fades

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