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LatinNews Daily - 27 April 2021

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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 5.1% in February 2021 compared with the same month in 2020. The figures show that activity in Mexico’s primary sector (agriculture, farming, and fisheries) was up 5.9% year-on-year in February while in the secondary sector (industry) was down 4.5%, and in the tertiary sector (services) was down 5.8%. In seasonally-adjusted terms, the Igae declined 0.3% in February compared with the previous month; the primary and tertiary sectors declined by 0.3% while the secondary sector expanded by 0.4%. Mexico’s GDP shrank by 8.2% in 2020 as a result of the impact of the coronavirus (Covid-19) pandemic. In its latest economic projections Mexico’s finance ministry (SHCP) forecasts GDP to grow 5.3% in 2021.