Macro Analysis /
GlobalMexico: Timely Indicator of Economic Activity – Modest recovery in 2Q22 GDP
May’s estimate was revised downwards to 0.0% m/m (1.5% y/y sa), with both services and industry moderating
June’s figure came in at -0.4% m/m (2.1% y/y sa), with declines in industry (-0.3%) and services (-0.5%)
The results suggest 2Q22 GDP at 0.8% q/q (+1.9% y/y nsa), underpinned by strong domestic demand
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
19 July 2022
Published byBanorte
