The Inegi calculates an increase of 3.1% in secondary activities and 2.5% in tertiary activities during said month, compared to January 2022.
And, compared to December 2022, an increase of 0.4% is estimated in Mexico’s economic activity, with a monthly growth of 0.5% for secondary activities and 0.3% for tertiary activities.
The Timely Indicator of Economic Activity (IOAE) estimates in advance the performance of the economy before the publication of the general index General Index of Economic Activity (IGAE), a benchmark for monthly GDP
In October 2022, the Inegi registered a stagnation in the economy, with a growth of just 0.03% at a monthly rate.
In November, the IGAE contracted 0.5% at the monthly rate, with a 0.9% drop in tertiary activities, stagnation in secondary activities, and a monthly growth of 5.3% in primary activities.
By December 2022, it is timely estimated that the IGAE grew just 0.1% at the annual rate, according to the IOAE published this Friday.
Therefore, the data for January -if materialized- indicate a rebound in Mexico’s economic activity compared to the poor results of the fourth quarter of 2022.
“The economy has a better face, since the scandalous fall of 0.4% that was expected for the last month of 2022 was revised to a variation of +0.1%, discreet, but positive. In addition, January began with an increase of 0.4%, which allows for the first time since February 2020 the monthly flows of activity reach the average levels registered in 2018, marking a new milestone in the recovery process“, indicated an analysis by Grupo Monex.
