Economic activity reaches new historical maximum: Inegi

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Mexican economic activity advanced 0.2% at a monthly rate in July 2023, which represented growth for the fourth consecutive month, reported the National Institute of Statistics and Geography (Inegi).

With the monthly advances for July and the estimate for August, it is anticipated that economic activity would have once again reached a new historical maximum in August,” the organization considered Mexico, how are we doing?

By sectors, secondary or industrial activities increased 0.5 percent at a monthly rate, tertiary or services activities fell 0.1 percent and primary or agricultural activities decreased 0.2 percent.

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At annual rate The global indicator of economic activity grew 3.5% in real terms, and by large groups of activities, secondary or industrial activities rose 4.9 percent; the primary or agricultural ones at 4.4% and the tertiary or services ones at 2.4 percent.

For analysts from the Bx+ financial group, the Mexican economy exhibited more strength than expected in the first half of the year.

However, They warned of a cooling in economic activity in the United States, although the probability of a recession has decreased.

For all these reasons, we expect GDP to grow at a slower rate in the second half of the year. “Consumption will continue to be supported in the short term by low unemployment.”

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