LatinNews Daily - 26 August 2021

In brief: Mexico’s GDP grows in second quarter

* Mexico’s national statistics institute (Inegi) has released new figures which show the country’s GDP grew 19.6% in the second quarter of 2021 compared with the same quarter last year. Growth was driven by increased activity in the secondary sector (industry), which rose by 27.9%; followed by increased activity ni the the tertiary sector (services), which rose by 16.9%; and increased activity in the primary sector, which rose by 6.8% in seasonally-adjusted terms. The Inegi data shows that GDP grew 1.5% in the second quarter of 2021, compared with the preceding quarter, in seasonally-adjusted terms, mainly due to more activity in the tertiary sector, which grew by 2%, followed by primary and secondary sectors, which grew by 0.8 and 0.3%, respectively. Inegi also released new figures for the global index of economic activity (Igae), a GDP proxy, which show that in June 2021 this grew by 13.4% compared with June 2020, while it contracted 0.9% in seasonally-adjusted terms compared with the previous month.

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