Mexico: Economic activity rebounds in April
Latest reading: The monthly indicator for economic activity (IGAE) expanded 0.5% in month-on-month seasonally adjusted terms in April, which contrasted March’s 0.2% decrease. The pickup was largely due to a large rebound in the services sector. In addition, the industrial sector expanded slightly.
On an annual basis, economic activity dropped 1.5% in April, contrasting March’s 2.5% expansion and marking the worst result since February 2021. Accordingly, annual average economic activity growth fell to 0.6% in April (March: +1.1%), pointing to a worsening trend.