Mexico: Economic activity accelerates in April
Economic activity accelerated at the outset of the second quarter, rising 4.5% from a year earlier in April (March: -0.8% year-on-year). According to INEGI, April’s reading was the strongest in 13 months, bolstered by across-the-board expansions and led by gains in the services sector (April: +4.9% yoy; March: +0.4% yoy). Both the agricultural (April: +3.9% yoy; March: +7.0% yoy) and industrial (April: +3.8% yoy; March: -3.8% yoy) sectors posted robust gains in the month, as well.
On a month-on-month basis, economic activity contracted 0.6% (March: +0.2% month-on-month).