Mexican economy registers growth of 0.8% last April | News

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The Global Indicator of Economic Activity (IGAE) of Mexico registered a growth of 0.8 percent at a monthly rate last April, the National Institute of Statistics and Geography (Inegi) published on Monday.


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This behavior represents the greatest variation since March 2022, when it rose 0.92 percent, while the IGAE also reported an increase of 3.3 percent at the annual rate and with this accumulates 26 consecutive months with advances, according to the Mexican entity.

The agency stressed that in a sectorial way, services, from which an advance of 0.6 percent was expected, grew 1.03 percent monthly, while the Inegi specified that primary activities (agriculture and livestock) increased 1.2 percent; tertiary (services and commerce) 1.0 percent and secondary (industry) 0.4 percent.

Inegi data assert that the Mexican economy advanced 1.0 percent in the first quarter of the year compared to the previous period. This data, according to economic analysts, was expected for all of 2023 (while in its annual comparison it grew 3.7 percent compared to the first quarter of 2022).

Meanwhile, among the items with the best behavior were retail trade, with 2.30 percent, while transportation reported a rise of 2.82 percent, and accommodation services, 2.13 percent.

“The IGAE makes it possible to know and monitor the evolution of the real sector of the economy in the short term. This provides valuable information for decision making. Its geographical coverage is national and reaches a representativeness of 94.7 percent of the gross added value of the year 2013, the base year of the products of the System of National Accounts of Mexico (SCN)", said the Inegi report.

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