The mexican economic activity advanced 4.4% year-on-year last January, driven in particular by services, as reported this Friday by the National Institute of Statistics and Geography (Inegi) based on original figures.
The Inegi indicated in a statement that this increase in real terms of the global indicator of the economic activity (IGAE) It is the result of the annual progress of tertiary (5.6%) and secondary (2.8%) activities.
However, the primary sector fell by 1.1% compared to the same month in 2022.
On the other hand, the IGAE advanced 0.6% at a monthly rate, according to seasonally adjusted figures, without circumstantial and calendar factors.
Compared to the previous month, services rose 1.2%, industry remained unchanged (0%), and the agricultural sector decreased 5.7%.
The IGAE is a preliminary indicator of different sectors that shows the trend or direction that the Mexican economy will have in the short term.
The data for January is published after revealing the definitive growth of the gross domestic product (GDP) during 2022 from Mexico, which was 3.1%.
The country had an annual growth of 4.8% in 2021.
In addition to more than 7 million cases and more than 330,000 deaths, the covid-19 crisis caused an 8.2% contraction of Mexico’s GDP in 2020, its worst collapse since the Great Depression of 1932.
Mexico’s economy grew 2.1% in 2018, but contracted 0.3% in 2019.
For 2023, there is a lack of consensus on the projections, exemplified by a forecast of 1.7% of the International Monetary Fund (IMF)but 0.9% expected by the World Bank.
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