Economic activity of Mexico increases 2.6 percent in February
Date
4/23/2024 3:08:15 AM
(MENAFN) Mexico's National Institute of Statistics and Geography (INEGI) revealed on Monday that the country's economic activity experienced a notable 2.6 percent increase in real terms for the month of February, when measured on an annual basis with seasonally adjusted data.
According to INEGI's statement, this growth was driven by significant upticks in secondary and tertiary activities, which saw respective increases of 1.5 percent and 3.2 percent compared to the previous year. Additionally, primary activities also contributed to the overall growth, rising by 2.6 percent annually.
Breaking down the figures further, on a monthly basis, Mexico's economic activity registered a 1.4 percent increase compared to the preceding month. Interestingly, primary activities saw a remarkable surge of 16.5 percent on a monthly basis, indicating a robust performance in sectors such as agriculture, forestry, and fishing.
Tertiary activities, encompassing services and commerce, experienced a more modest monthly increase of 1.2 percent.
However, there was a slight contraction of 0.1 percent in secondary activities, which cover manufacturing and construction, when measured on a monthly basis.
In sum, Mexico's economic activity demonstrated resilience and growth in February, with notable expansions in key sectors contributing to both annual and monthly increases. These developments reflect the dynamic nature of Mexico's economy and provide insights into its performance amid various internal and external factors.
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