Mexican economy has its best performance since April: it grew 1.0% in August

The economic activity in Mexico showed its best performance in four months, according to the results released this Tuesday morning by the National Institute of Statistics and Geography (inegi).

In the eighth month of the year, the Global Indicator of Economic Activity (IGAE) —which monitors the economy on a monthly basis— showed a variation of 1.0% in its monthly comparison.

This was its best performance since last April, when growth for the month was 1.2 percent.

The data is better than what the Inegi predicted in the Timely Indicator of Economic Activity (IOAE), of a monthly growth of just 0.1 percent.

In its annual comparison, the Mexican economy would show a growth of 4.7%, the highest since July 2021, when it recorded a variation of 7.7 percent.

By economic activity, it was the primary sector, related to agriculture, fishing and the like, which showed the best monthly performance, with growth of 3.6 percent.

In the case of tertiary activities, which includes the service sector, there was a growth of 1.2 percent in August. Meanwhile, the secondary sector, where the industries are located, did not show any variation compared to the previous month.

ana.martinez@eleconomista.mx