Macro Analysis /
GlobalMexico: 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
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
25 July 2022
Published byBanorte
