Macro Analysis /

Mexico: GDP-proxy IGAE – Slight contraction in May

  • Activity fell 0.2% m/m (+2.1% y/y) in May, not as negative considering progress in the last couple of months

  • Sequentially, industry decelerated (+0.1%) while services fell (-0.3%). However, agriculture rebounded 2.2%

  • As results were in line with our expectations, we maintain our forecast for 2Q22 GDP at +0.7% q/q

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

25 July 2022
Published byBanorte


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