EconomyMexico's economic activity falls 0.3% in June

Mexico's economic activity falls 0.3% in June

Mexico’s economic activity fell 0.3% at a monthly rate during June, weighed down by a decrease in primary activities and a stagnation in tertiary activities, the National Institute of Statistics and Geography reported on Thursday.

The drop in the Global Indicator of Economic Activity was stronger than expected, according to the timely forecast of Inegi, which estimated a contraction of 0.1%.

With a monthly decrease of 6% in primary activities, an increase of 0.1% in secondary activities and a stagnation in the tertiary sector, the Global Indicator of Economic Activity fell 0.3% in June, although it maintains a growth of 1.8% at the annual rate.

Compared to the same month in 2022, the drop in primary activities in June was 3%, while secondary and tertiary activities grew 3.8% and 1%, respectively.

It is the second contraction in economic activity after falling 0.2% in May in its monthly comparison. This after having presented a growth of 1.07% in April.

The falls in May and June affected the growth of the Gross Domestic Product for the second quarter of 2022, which grew 0.9% compared to the previous period, according to data released by Inegi this Thursday.

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The IGAE grew for the second consecutive month, driven by an increase in primary and tertiary activities, although with a stagnation in those of the secondary sector.

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