EconomyMexico's economic activity grows 0.4% during July

Mexico's economic activity grows 0.4% during July

Mexico's economic activity grew 0.4% at a monthly rate during July, indicated the National Institute of Statistics and Geography (Inegi).

Compared to June, primary activities grew 0.8%, while secondary and tertiary activities grew 0.4%, during July.

At an annual rate, the Global Indicator of Economic Activity (IGAE) grew 2.2%. However, primary activities had an annual contraction of 2.7%. Secondary and tertiary activities, for their part, grew 3.5 and 1.7% compared to July 2021.

In June, the IGAE had shown a contraction of 0.3% at the monthly rate and the Inegi estimates that, for August, the variation will be 0%.

This indicator is made up of production data from all sectors, in addition to taking into account information on occupation and employment. And it is also considered a parameter to estimate the Gross Domestic Product of Mexico.

Mexico registers 57.5 million people with employment in September

The informality rate was 55.6% and unemployment during the patriotic month was 3.3%, according to Inegi figures

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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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The only sector that showed growth in August was mining, while manufacturing and construction fell in their monthly comparison.

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