Macro Analysis /
GlobalMexico: Timely Indicator of Economic Activity – Upward revision in 1Q22 GDP
February’s estimate had a strong upward revision at +1.1% m/m (0.5% y/y sa), with services better (+1.0%)
April’s print came in at 1.8% m/m (1.1% y/y sa). Industry would accelerate (+0.5%), with services still positive (+0.4%)
These results suggest that 1Q22 GDP would be revised to 1.2% q/q, stronger than the preliminary figure of 0.9%
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
19 May 2022
Published byBanorte
