HomeBusiness
BusinessNews

Preliminary data shows Mexico annual GDP grew 2.6%

MND Staff
By MND Staff
0
Inegi HQ
The Mexican economy has grown 0.4% in April, after an 0.1% contraction in March. (Google)

Mexico’s economy grew 0.4% in April compared to the previous month, and 2.6% in annual terms, according to preliminary data published by the national statistics agency INEGI on Thursday.

INEGI said that final data is expected to show annual growth of 1.7% in the secondary sector, which includes manufacturing, mining and construction, and 2.8% in the tertiary or services sector, which includes a range of business from commercial businesses to transport and the health sector. INEGI didn’t provide preliminary data for the primary sector.

In addition to providing a “nowcast” prediction of 2.6% annual growth in April, INEGI offered low-end and high-end forecasts of 1.7% and 3.5%, respectively.

The 0.4% month-over-month growth comes after a 0.1% decline in economic activity in March. INEGI published preliminary data in late April that showed that the economy grew 1.1% in the first quarter of 2023 compared to the previous three months and 3.8% in annual terms.

Mexico recorded GDP growth of 3.1% in 2022, while the federal Finance Ministry is forecasting a similar expansion of 3% this year.

The International Monetary Fund is less optimistic, predicting in its most recent World Economic Outlook report that Mexico’s economy will grow by just 1.8% in 2023.

With reports from El Economista and Sin Embargo 

Have something to say? Paid Subscribers get all access to make & read comments.

Government turning to AI to solve the acknowledged problem of medication shortages

MND Staff - 0
A newly created Advisory Council for the Digital Transformation of the Health Sector is charged with improving the procurement and distribution of supplies for the more than 16,000 IMSS hospitals and health centers.
Asarco mining

Mining giant Grupo México plans to expand its US copper operations to the tune of US $4-6B

MND Staff - 1
The Mexican conglomerate's U.S. copper production fell sharply in the third quarter, forcing a downward revision of the 2026 target production to 1.026 million tonnes in 2026, from the previous 1.034 million. The company's response is to double down.
Giant bones in a pile in the Mexico City Zócalo as the city prepares to install a giant catrina figure in the Zócalo ahead of Día de Muertos next week.

Mexico’s week in review: Trade optimism holds despite a CIA-linked treason case

MND Staff - 0
Mexico’s hopes for U.S. tariff relief shared the spotlight this week with a CIA-linked treason case, clean-water protests and scrutiny of the government’s fuel-theft crackdown.
BETA Version - Powered by Perplexity

VIDEO OF THE WEEK