Mexico’s economy would continue with good dynamism in the first part of the third quarter, according to the latest data published by the National Institute of Statistics and Geography (INEGI).
“In the seventh month of the year, the Mexican economy would have expanded at a rate of 0.2% in monthly comparison,” the results of the Timely Indicator of Economic Activity (IOAE) showed.
With this and a forecast of growth of 0.4% monthly in July, the Mexican economy would have two months of growth after the stagnation reported in May by the Global Indicator of Economic Activity (IGAE).
“Assuming that the IOAE shows zero growth in August and September, a growth of 0.2% in July would be enough for the GDP of the third quarter to show growth close to 0.48% quarterly,” said Gabriela Siller, director of economic and financial analysis at Banco Base.
Meanwhile, the upward revision of June’s growth from 0.2% to 0.4% monthly would cause a slight revision of GDP in the second quarter of the year.
According to the timely estimate of “INEGI,” in the second third of the year, economic activity would have expanded at a quarterly rate of 0.9 percent.
The government of Andrés Manuel López Obrador expects that the economy will expand at a pace of 3% this year.
Overall progress
Although the IOAE does not provide data for primary activities, it can be observed that in the case of secondary and tertiary activities, there is a general growth in the month of July.
