Inegi expects a 1.5% growth of the economy in July

Inegi expects a 1.5% growth of the economy in July

The Timely Indicator of Economic Activity (IOAE) estimates in advance the performance of the economy before the publication of the IGAE general index, a benchmark of monthly GDP.

Comparing economic activity with June, the IOAE estimates that economic activity will contract 0.1% during July.

A decrease of 0.2% is calculated for secondary activities and 0.1% for tertiary activities, compared to the previous month.

In May, the Global Indicator of Economic Activity (IGAE) grew just 0.03% per month and it is estimated that in June it will have a contraction of 0.1% at a monthly rate, according to Inegi figures. Although, compared to June 2021, economic activity would be 2.1% higher.

If the Inegi forecasts are fulfilled, the Mexican economy would accumulate two months, June and July, with monthly contractions of 0.1%.

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