MEXICO CITY, Jan. 2 (Xinhua) -- Mexico's economy showed a lack of momentum at the end of 2024, with slowdowns in both manufacturing and commerce and services, according to indices released Thursday by the Mexican Institute of Finance Executives (IMEF).

The IMEF Manufacturing Indicator fell by 0.3 points in December compared to November, remaining in contraction territory for the ninth consecutive month at 47.7 units, the organization said.

Similarly, the IMEF Non-Manufacturing Indicator, which reflects commerce and services activity, declined by 0.8 points in December, settling at 49.6 units and also remaining in contraction territory.

"After being the engine of economic dynamism in the first months of the previous year, the indicators for services and commerce at the end of 2024 suggest that the expansion of these sectors is not robust and could be on the brink of experiencing a widespread contraction," IMEF noted.

The December indicators signal a lack of dynamism, raising the possibility that the economy may have ended 2024 with minimal or no growth, the organization added.

Preliminary figures for Mexico's 2024 economic growth are set to be released by the National Institute of Statistics and Geography on Jan. 30.

Meanwhile, the Bank of Mexico has forecasted a 1.8 percent economic expansion for 2024, with growth to slow further to 1.2 percent in 2025, based on its latest estimates. Enditem

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