LatinNews Daily - 28 June 2021

In brief: Mexico’s economic activity shows signs of growth

*Mexico’s national statistics institute (Inegi) has released the latest data from its global economic activity indicator (Igae), a GDP proxy measure, which shows that economic activity in the country increased by 22.3% in April compared with April 2020. According to an Inegi report, the increase in activity in April was driven by a rise in activity in the industrial (36.6%) and services (17.9%) sectors, while there was a fall in activity in the agricultural sector (-0.7%). However, the seasonally adjusted figures show that the Igae fell by 0.2% in April compared with the previous month, with activity in the services sector increasing by 0.3% month-on-month but activity in the agricultural and industrial sectors falling by 2.9% and 0.2%, respectively. In seasonally adjusted annual terms, the Igae grew by 21.4% in April compared with April 2020 with industrial sector activity rising 35.7%; services sector activity rising 17%; and agricultural activity falling by 0.1%. Commenting on the data Inegi president, Julio Santaella, said that the Igae began showing partial recovery in June 2020 from the economic slowdown produced by the coronavirus (Covid-19) pandemic but that the level of activity “has still not reached the level of February 2020”.

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