Macro Analysis /
GlobalMexico: IP – Positive surprise in April fueled by mining and manufacturing
IP rose 0.6% m/m in April (2.7% y/y). All categories were up, with strength in mining (+1.4%) and manufacturing (+1.2%)
External demand kept driving manufacturing, with little evidence of an impact from further shocks and high prices
We believe that IP will keep facing risks related to trade and prices, with manufacturing key to maintaining dynamism
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
10 June 2022
Published byBanorte
