EconomyIndustrial activity grows 0.4% in July, thanks to advances...

Industrial activity grows 0.4% in July, thanks to advances in manufacturing

Industrial activity in Mexico increased again during July, now at a rate of 0.4% monthly and 3.5% annually, reported the National Institute of Statistics and Geography (Inegi). However, setbacks were observed in activities such as mining and construction, while manufacturing made progress.

At a monthly rate, mining activities fell 2.5% during July, showing an annual decline of 0.7%.

Construction also showed a drop of 0.9% in July and 0.8% compared to the same month in 2021.

The generation, transmission and distribution of electrical energy, supply of water and gas through pipelines to the final consumer also fell 0.1% as a whole.

And, in contrast, the manufacturing industries advanced 1.6% compared to the month of June and 6.7% at the annual rate.

The monthly indicator of industrial activity has increased for 5 consecutive months, after a monthly fall of 0.4% in February.

Inflation remains at 8.76% in the first half of September

The INPC stood at 8.76% during the first fortnight of the national month, below the 8.77% of the second fortnight of August, but exceeded market expectations.

Mexico's economic activity did not grow in August

The Inegi forecasts a monthly drop in secondary activities and a stagnation in tertiary activities, although annual growth is maintained.

Inflation got worse in August: It would have been above the 8.15% annual rate...

The rise in prices further weakened the purchasing power of Mexicans in the eighth month of the year and widened the gap with Banxico's inflation target.

There are 16.6 million workers in Mexico, without a written contract!

According to the Inegi, four out of 10 paid and subordinate workers lack a role that serves as protection against unjustified dismissals or that gives them access to health services and benefits.

Inegi expects a 1.5% growth of the economy in July

The economic activity would be driven by a growth of 2.7% in secondary activities and 9.8% in tertiary activities.