Mexico: Economic activity moderates in May
July 23, 2018
Economic activity expanded 2.2% over the same month last year in May, easing from the 4.5% expansion logged in April. According to INEGI, May’s expansion was driven by strong gains in the agricultural sector (May: +8.0% year-on-year; April: +3.2% yoy). Meanwhile, growth in both the industrial and services sectors moderated; industrial activity grew 0.3% (April: +3.7% yoy), while services activity decelerated to 2.9% (April: +5.0% yoy).
On a month-on-month basis, economic activity rebounded 0.5% in May from a 0.6% contraction registered in April.