Macro Analysis /

GDP-proxy IGAE–Additional dynamism in April despite a more challenging backdrop

  • In April, activity grew 1.1% m/m (1.3% y/y), quite strong considering additional risks in the period

  • Sequentially, services led gains at +1.3%, followed by industry with +0.6%, while agriculture fell 1.3%

  • We believe the economy extended its recovery in 2Q22. However, we remain cautious on supply disruptions and inflation

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

24 June 2022
Published byBanorte


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