Thursday, December 02, 2021

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Mexican economy grew 20.6 percent in April

Mexican economy grew 20.6 percent in April

Mexico, May 19 (Prensa Latina) The National Statistics and Geography Institute (INEGI) estimated that Mexico's economy grew 20.6 percent in April, compared to the same month in 2020, and was mainly boosted by the industrial sector.
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The comparison was made with one of the worst months in the economic downfall caused by the Covid-19 pandemic, but even so, it is an extraordinarily high rate that expresses the country’s sustained recovery, the INEGI Timely Indicator of Economic Activity explained.

It admitted that Mexico’s economic performance is anticipated; that is, before the publication of the general index known as IGAE, but it might be the highest growth registered since 2004, when the Institute started to publish those data.

According to that estimate, the industrial sector reported an interannual growth of 34.5 percent, while goods and services rose by 16.4 percent.

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