Mexico’s economic activity increases 0.2 percent annually in August – Periódico Digital Centroamericano y del Caribe

Report on Mexican Economic Activity and Alignment with Sustainable Development Goals

1. Overview of Economic Performance

Preliminary data from the National Institute of Statistics and Geography indicates that Mexico’s economic activity expanded by 0.2 percent in August on a year-over-year basis. These econometric estimates, which are seasonally adjusted and presented with 95 percent confidence intervals, provide an initial assessment of the nation’s economic trajectory in relation to global development targets.

2. Sectoral Analysis and SDG Implications

A detailed examination of the data reveals divergent performance across economic sectors, with significant implications for Mexico’s progress toward key Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation, and Infrastructure).

1. Overall Growth and SDG 8: The 0.2% overall growth represents a marginal step toward the sustained economic growth promoted by SDG 8. The projected 0.1% monthly increase in the Global Economic Activity Indicator suggests continued, albeit slow, momentum.
2. Tertiary Sector Performance: The service-based tertiary sector is expected to grow by 0.7% annually. This growth is a positive contributor to SDG 8, though its modest rate highlights the challenges in achieving robust and inclusive economic expansion.
3. Secondary Sector Challenges and SDG 9: The industrial secondary sector faces considerable headwinds, with a projected annual decline of 2.0% and no change on a monthly basis. This contraction directly impedes progress on SDG 9, which calls for promoting inclusive and sustainable industrialization.

3. Detailed Projections and SDG Context

• SDG 8: Decent Work and Economic Growth: The anticipated 0.7% increase in tertiary activities is the primary driver of overall economic growth. However, reliance on a single sector for growth underscores the need for economic diversification to ensure the creation of decent work for all, a core target of SDG 8.
• SDG 9: Industry, Innovation, and Infrastructure: The 2.0% annual decline in secondary activities signals a significant challenge for sustainable industrialization. This trend runs counter to the objectives of SDG 9, which emphasizes the importance of a strong industrial base for innovation, infrastructure development, and long-term economic resilience.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The article primarily connects to the following Sustainable Development Goals:

• SDG 8: Decent Work and Economic Growth

  The entire article is focused on reporting Mexico’s economic performance. It discusses the growth of the “Global Economic Activity Indicator,” which is a direct measure of economic growth, a central theme of SDG 8.

• SDG 17: Partnerships for the Goals

  The article highlights the role of a national institution in data collection and reporting. The information is provided by Mexico’s “National Institute of Statistics and Geography,” which relates to the goal of strengthening statistical capacity to measure progress on sustainable development.

2. What specific targets under those SDGs can be identified based on the article’s content?

Based on the article, the following specific targets can be identified:

• Target 8.1: Sustain per capita economic growth

  This target aims to “Sustain per capita economic growth in accordance with national circumstances.” The article directly addresses this by stating that “Mexico’s economic activity grew 0.2 percent last August,” providing a specific measurement of the country’s economic performance.

• Target 17.18: Enhance capacity-building support for data

  This target calls for enhancing support to developing countries “to increase significantly the availability of high-quality, timely and reliable data.” The article is a direct product of such capacity, as it is based on “preliminary data released by the National Institute of Statistics and Geography.” The mention that the institute provides a “Timely Indicator of Economic Activity” further reinforces this connection.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, the article mentions and implies indicators that align with the identified targets:

• Indicator 8.1.1: Annual growth rate of real GDP per capita

  While the article does not use the term “GDP,” the “Global Economic Activity Indicator” it references serves as a proxy for measuring economic output and growth. The reported figures, such as the “0.2 percent” growth and the monthly “0.1 percent increase,” are the types of data points used for this official indicator.

• Indicator 17.18.1: Statistical capacity indicator for Sustainable Development Goal monitoring

  The article itself is evidence of Mexico’s statistical capacity. The existence and functioning of the “National Institute of Statistics and Geography” to produce and release “timely” and disaggregated data (by secondary and tertiary activities) demonstrates the country’s capability to monitor economic progress, which is a key component of this indicator.

4. SDGs, Targets and Indicators Table

Source: newsinamerica.com