The Mexican economy grew 0.4% in April: IOAE

The Economy of mexico it grew 0.4% in April from the 0.1% drop observed in March, which represents the best level in the last three months, according to the Timely Indicator of Economic Activity (YES) which is prepared by the National Institute of Statistics and Geography (Inegi).

The Inegi indicator also showed that economic activity had an increase of 2.6% in April compared to the year. The growth of the economy has scenarios of 1.7 to 3.5 percent.

In the breakdown of information, the IOAE showed that secondary activities grew 0.5% in April from the 0.9% drop registered in March. For this last data, the Inegi used as a reference the Monthly Indicator of Industrial Activity.

In an annual comparison, activities related to mining, construction, among others, increased 1.7% in April. The intervals oscillate between a contraction of 0.6% and a growth of 4 percent.

The Inegi also reported that tertiary activities -business and services- they registered a monthly increase of 0.4% in April from 0.2% in March.

Economic activities related to the service industry, transportation, among others, had an annual increase of 2.8 percent. The growth ranges for these activities range from 1.7 to 4 percent.

The Timely Indicator of Economic Activity makes it possible to have timely estimates on the evolution of the Global Indicator of Economic Activity (IGAE).

The IOAE presents its estimates five weeks before the publication of the IGAE. The projections made present 95 percent confidence intervals.