The Mexican economy profiles growth of 0.4% in March

The Timely Indicator of Economic Activity estimates in advance the evolution of the Global Indicator of Economic Activity (IGAE), which, in turn, allows the growth of Mexico’s Gross Domestic Product to be measured.

In January, the IGAE registered a growth of 1.8% at the annual rate, spinning three months of growth. In this sense, if the increases of 2.8% for February and 0.4% for March are confirmed, the economic activity of Mexico would have increased for five months. But with a moderation in the third month of the year.

With the data released today by the Inegi, secondary activities are expected to have grown 3.1% at an annual rate, an increase greater than the 2.5% expected for February.

However, tertiary activities would have decreased 0.3% annually during March after having grown 2.1% in February, according to Inegi estimates.

The Timely Indicator of Economic Activity estimates that the monthly growth of the IGAE had an increase of 0.8% compared to February.

The Grupo Financiero Monex analyst, Janneth Quiroz, indicated that if the Inegi estimates materialized, Mexico’s Gross Domestic Product (GDP) would have grown 1.6% in the first quarter of 2022, compared to the last quarter of 2021. And, in Compared to the same quarter last year, the increase would have been 1.7%.

At the beginning of April, the Ministry of Finance and Public Credit lowered its estimate of economic growth, from 4.1% to 3.4% for this 2022.