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LatinNews Daily - 27 May 2021

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In brief: Mexico sees GDP growth in Q1 2021

* Mexico’s national statistics institute (Inegi) has released its latest data on GDP, according to which the economy expanded 0.8% in the first quarter of the year, compared with Q4 2020. In year-on-year terms, Q1 GDP contracted by 2.8%. In annual terms, the primary sector (agriculture) grew 2.6%, while the secondary and tertiary sectors (industry and services) shrank by 2% and 3.4%, respectively. The Inegi has also released figures for the index of economic activity (Igae) for April, which recorded the first positive year-on-year variation in 22 months, according to Inegi president Julio Santaella. The April Igae grew 0.4% compared with April 2020 – one of the worst-hit months by the effects of the coronavirus (Covid-19) pandemic – while economic activity expanded 2.6% compared with March.