Wednesday, June 18, 2025

Preliminary growth numbers show 20.6% increase in April

The economy bounced 20.6% in April compared to the same month last year, according to preliminary estimates by the National Institute of Statistics and Geography (Inegi).

The rebound would be the highest annual growth for any month on record, and would see the economy break the negative streak of 20 consecutive months of dips.

The hit taken by the economy in April last year due to the arrival of the Covid-19 pandemic and the confinement measures that accompanied it was largely responsible for the extent of the increase.

Inegi predicts 22.4% growth for April as the most optimistic possible outcome and a worst case scenario of 18.6%.

The statistics body also details secondary and tertiary activities, which would also have a significant growth rate. The industrial sector could see 34.5% annual growth for April, while the services sector could show a recovery of 16.4%.

Gabriela Siller, director of financial analysis at Banco Base, said the historic growth rate is mainly a reflection of last year’s poor results. “It should be remembered that, in April 2020, economic indicators contracted 19.7% in annual terms, so the significant annual growth is mainly due to the low comparison base,” he said.

She added that the outlook is positive for continued growth into the second quarter, driven particularly by the recovery of the service sector, which was one of the most affected by the pandemic.

Source: El Economista (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
people collecting seaweedat the beach

Is sargassum a problem today along the Quintana Roo coast? Yes and no

0
Even with all the gloomy predictions of a sargassum invasion, there are some Riviera Maya beaches, including in Cancún, that are sargassum-free this summer.

Hurricane Erick gaining strength as it heads for Guerrero and Oaxaca coasts 

0
The Category 2 hurricane is expected to make landfall somewhere between Acapulco and the Oaxaca city of San Pedro Mixtepec on Wednesday night.
At the G7, Sheinbaum appeared between French President Macron and Australian Prime Minister Anthony Albanese in an official leaders' photo.

Mexico-Canada relations take center stage during Sheinbaum’s G7 visit

2
Both President Sheinbaum and Prime Minister Mark Carney emphasized their support for the USMCA and said they were interested in the idea of holding a trilateral meeting that included Trump.