Nuevo León’s economic activity grows 0.3% in the second quarter of 2022: ITAEE

Monterey, NL. During the second quarter of 2022, the economic activity of New Lion showed an annual growth of 0.3%, which resulted from the increase in primary and secondary activities of 3.4 and 3.2%, respectively, and the contraction of tertiary activities of 1.2%. However, in the same period last year, secondary activities they had a percentage variation of 46.6 percent.

Another sector that showed a slowdown was that of tertiary activities with a drop of -1.2% from April to June of this year, compared to a positive variation of 21.9% in the second quarter of 2021.

On the contrary, the primary activities showed an increase of 3.4% in the second quarter of 2022 compared to the same period of the previous year, in which it showed a drop of -11.9%, according to the Quarterly Indicator of State Economic Activity (ITAEE) of the National Institute of Statistics and Geography (inegi).

During the period January to June 2022, the accumulated state economic activity grew 0.9%, due to the increase in primary and secondary activities of 10.1 and 5.1%, respectively; and due to the 1.4 percent decline in tertiary companies.

It is worth mentioning that the secondary activities correspond to the sectors dedicated to the mining, manufacturing, construction and electricity industries.

According to the results of the Survey of Economic Expectations of the Transformation Industry Chamber of Nuevo León (Caintra), the industry had four indicators in the contraction phase in the month of September. “If the following months are repeated, a moderation in manufacturing activity could be anticipated for the end of the year.”

New orders fell for the first time in seven months, being below the expansion threshold, this variable went from 53.5 points in August to 47.9 in September. In the same sense, the physical production volume index contracted for the first time since February, reaching 48.1 points in September.

In turn, inventories entered the contraction phase with 49.1 points, just as exports went from the expansion zone in August to the contraction phase in September with 48.13 points.

According to the survey carried out with 109 companies, from October 5 to 14, the factors that most hinder the performance of companies are: 36.4% of those surveyed consider that the variable that most affects them is weak economic activity; (35.5%) shortage of trained personnel and (34.6%) increase in the price of raw materials.

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