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Mexico Economic Activity April 2019

Mexico: Economic activity records largest contraction since March 2013 at start of Q2

Economic activity plunged in April, recording the worst result in 6 years. According to the Statistical Institute (INEGI), economic activity dropped 1.4% year-on-year, contrasting March’s 1.3% increase. April’s downturn was driven by a notable contraction in industrial-sector activity, as well as narrower losses in services-sector activity.

Annual average growth in economic activity, meanwhile, fell from 1.9% in March to 1.5% in April.

In seasonally-adjusted terms, economic activity increased 0.1% month-on-month (March: -0.5% month-on-month s.a.).

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