Mexico’s economic activity rebounds 0.4%
The Global Indicator of Economic Activity (IGAE) grew 0.4% in real terms in July of this year, compared to the previous month, after falling by 0.1% in June. According to figures reported by the National Institute of Statistics and Geography (Inegi), in annual comparison, the increase was of 2.8% during July of the current year in relation to the same month of 2017.
The primary sector presented the greatest progress during July 2018, with 2.6%. Following, with advances far below, the tertiary activities (services), with 0.3%, and, lastly, the secondary activities showed the least dynamism with a 0.3% progress.
Within the IGAE, the tertiary activities (commerce and services) had an increase of 3.6%, the primary (agriculture, livestock and fishing) of 1.8%, and secondary activities (mining and manufacturing) advanced 1.2% at annual rate.
So far this year, the indicator averages growth similar to that registered in the same period last year. In addition, the three components (agriculture, industry and services) registered positive annual growth rates and even an acceleration compared to June. Exports contributed to the dynamism of primary activities and manufacturing.
The figures represented the second largest expansion in the year, averaging 2.2% per year so far, similar to that registered in the first seven months of 2017.