A key index of manufacturing activity in Mexico showed a slight increase in September for the fourth consecutive month, pointing to the severe economic recession is over, said Monday the Mexican Institute of Finance Executives (IMEF).
In September IMEF manufacturing indicator stood at 51.6 points, representing a marginal increase of 0.5 points compared to previous month.
"This is the fourth consecutive month that the indicator remains variations positive per month, although it does not mean that business activities are in full growth, it makes clear that the downward trend behind us, "IMEF said in a report.
IMEF non-manufacturing indicator, which measures the activity of businesses and service-September stood at 51.8 points, also in his fourth positive monthly variation.
Mexico is in deep recession dragged the U.S., its largest trading partner and destination for about 80% of its exports, as well as additional blow H1N1 influenza outbreak that affected the country's economic activity, especially in May.
The government estimates Mexico's economy may fall this year to 6.8%, to recover in 2010 with growth of 3.0%.
"The result IMEF manufacturing indicator keeps the assertion that the downturn in the economy has ended, pending the different variables now begin to register positive changes, not only from the previous month, but in relation to the same period last year, "said IMEF.
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