Private consumption fell 0.4 percent in May compared to April, marking two months of negative growth, the National Institute of Statistics and Geography (INEGI) reported on Friday.
In its annual variation, the Monthly Indicator of Private Consumption (IMCP) for the fifth month of 2024 showed an advance of 2.8 percent.
The lower monthly dynamism reported in May was explained by a 3.6 percent drop in the purchase of imported goods by Mexican households.
While the acquisition of national goods and services observed an increase of 0.3 percent compared to April 2024.
The slight increase was due to a 0.7 percent decline in the purchase of services in May compared to the fourth month of the year, while the purchase of national goods grew by 0.7 percent.
The 2.8 percent annual increase in private consumption in May was explained by a 12.0 percent increase in imported goods.
Consumption of domestic goods and services grew by 1.1 percent at an annual rate in the fifth month of the year, a dynamism that was driven mainly by the purchase of goods, which grew by 1.3 percent.
#Private #consumption #fell #Inegi
– 2024-08-11 05:59:59
