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LatinNews Daily - 28 July 2021

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In brief: Mexico’s economic activity surges in May

* Mexico’s national statistics institute (Inegi) has released the latest data for its global economic activity indicator (Igae), a GDP proxy measure, which shows that economic activity in the country grew by 25.1% in May 2021 compared with the same month in 2020. According to Inegi this increase was driven by growth in all primary (agriculture), secondary (industry), and tertiary (services) sectors, which respectively grew by 10.3%, 36.4% and 21.5%. In seasonally-adjusted terms, the Igae increased by 0.6% in May 2021 compared with the previous month, with the primary sector up 8.4% and secondary and tertiary sectors up by 0.8% and 0.1% respectively.