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August 26, 2022
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Mexico’s GDP grows 0.9% in the second quarter of 2022

Mexico's GDP grows 0.9% in the second quarter of 2022

Primary, secondary and tertiary activities grew at the same rate of 0.9%, compared to the first quarter.

GDP growth was affected by a contraction in economic activity of 0.3% during June, according to Inegi.

With a monthly decrease of 6% in primary activities, an increase of 0.1% in secondary activities and a stagnation in tertiary activities, which did not show variation.

The drop in primary activities in June was 3% at the annual rate, while secondary and tertiary activities grew 3.8% and 1%, respectively.

Thus, in the first six months of 2022, the GDP maintains a growth of 1.9% compared to the first half of 2021. And a recovery is observed in the cultural, sports and other recreational services sector, with an advance of 63.1% per year. In addition, lodging, food and beverage services grew 32.6% in the semester.

However, the construction sector continues with the slowest growth, among those shown today by the Inegi, since it only expanded 0.5% throughout the semester.

Compared to the second quarter of 2021, the GDP had an advance of 1.9%, where secondary activities grew 3.3%, primary activities, 1.4%, and tertiary activities, 0.9%.



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