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LatinNews Daily - 26 March 2021
In brief: Mexico’s economic activity continues to fall
* Mexico’s national statistics institute (Inegi) has released the latest figures for its global indicator of economic activity (Igae), which fell 5.4% in January 2021 compared with the same month in 2020. The figures show Mexico’s primary sector (agriculture, farming, and fisheries) was up 2.4% year-on-year in January while the secondary sector (industry) was down 4.9%, and the tertiary sector (services) was down 6.1%. In seasonally-adjusted terms, the Igae was up 0.1% in January 2021 compared with December 2020; the primary sector was up 1.8%; the secondary sector expanded by 0.2%; and the tertiary sector declined by 0.1%. Mexico’s GDP shrank by 8.2% in 2020 as a result of the impact of the coronavirus (Covid-19) pandemic. Earlier this month the president of Mexico’s central bank (Banxico), Alejandro Díaz de León Carrillo, recalled that Banxico currently expects Mexico’s economy to grow 4.8% this year.
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