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economic activity In Mexico it grew by 3.8% year-on-year in Julyafter a 0.6% decline in June, driven in particular by the agricultural sector, the National Institute of Statistics and Geography (Inegi) reported on Monday.
He Inegi The report, based on initial figures, indicates that this increase in Mexico’s global economic activity indicator (IGAE) is the result of annual growth in all sectors: elementary (11.9%), from secondary (2.1%) and higher (4.3%).
Likewise, IGAE It grew at a monthly rate of 0.6%, according to seasonally adjusted data, excluding cyclical and calendar factors.
Compared to the previous month, all sectors grew: agricultural (11.6%), industry (0.2%), and services (0.4%).
Thus, Mexico’s economic activity accumulates growth of 2.1% year-on-year for the first seven months of 2024, based on initial figures.
secondary activity grew by 1.5%, and tertiary services by 2.6%, although primaries They fell by 0.%.
He IGAE This is a preliminary indicator, shows economic trends Mexican in the short term.
The July data comes after it was revealed that Mexico’s economy grew 0.2% quarter-on-quarter and 2.1% year-on-year in the second quarter of 2024, up 1.8% year-on-year.
According to updated Inegi data, the country grew by 3.2% in 2023, 3.9% in 2022 and 6.1% in 2021.
The Covid-19 crisis caused Mexico’s GDP to contract by 8.8% in 2020, the worst crash since the Great Depression of 1932.
The government estimates that growth will be around 3% in 2024.
EFE
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
