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Mexico Economic Activity April 2022

Mexico: Economic activity expands at quickest pace since March 2021 in April

The monthly indicator for economic activity (IGAE) grew 1.1% in month-on-month seasonally-adjusted terms in April, which was above March’s 0.4% increase. April’s result marked the strongest increase since March 2021. April’s rise was partly due to a notable rebound in the services sector, which was aided by strong expansions in contact-intensive services as the impact of the pandemic faded. In addition, the industrial sector gained steam. In contrast, the primary sector contracted.

On an annual basis, economic activity rose at a faster rate of 1.3% in April (March: +0.4% yoy). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 4.6%, down from March’s 6.2%.

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