Mexico: Economic activity confirms downbeat Q1
Economic activity remained lackluster in March. According to the Statistical Institute (INEGI), economic activity grew 1.3% year-on-year, up slightly from 1.1% in February. March’s outturn was driven by a pick-up in industrial-sector activity, as well as narrower losses in services-sector activity.
Annual average growth in economic activity, meanwhile, ticked up to 1.9% from 1.8% in February.
In seasonally-adjusted terms, economic activity fell 0.6% month-on-month (February: +0.2% month-on-month s.a.).