Mexico City. The Timely Indicator of Economic Activity (Ioae) estimated that Mexico’s economy managed to rebound in the first quarter of 2024, driven by services, revealed the National Institute of Statistics and Geography (Inegi).
According to figures released by Inegi, the Mexican economy, measured through the Ioae, advanced 1.7 percent annually in February and 2.1 percent in March compared to the same months in 2023.
A few days ago, Inegi revealed that the Global Indicator of Economic Activity (IGAE), a monthly indicator of national GDP, reported a contraction of 0.6 percent in January compared to December; while in its annual measurement, the Mexican economy grew 1.1 percent in the first month of the year compared to January 2023.
The expected annual variation in secondary activities (industry) was a growth of 1.5 and 1.6 percent in February and March, respectively. While in the tertiary sectors (commerce and services), the increase was 2.0 and 2.5 percent in the reference period.
The Ioae, which estimates in advance the performance of the Mexican economy before the publication of the Global Indicator of Economic Activity, better known as IGAE, a monthly GDP reference, anticipated an advance of 0.6 percent in February, compared to January; and a growth of 0.2 percent monthly in March.
Internally, the timely indicator predicts that the industry, made up of construction, manufacturing, electricity generation and mining, contracted 0.1 percent in February; as well as services, advanced 0.6 percent in February. Meanwhile, the industry advanced 0.3 percent monthly in March and 0.2 percent in services.
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– 2024-04-25 14:16:50
