Mexico’s GDP avoids the bad streak and grows 1.9% during the first quarter of 2022

During the first quarter of 2022, the Mexico GDP it would be growing 1.9% in year-on-year comparison, if the timely estimate of the Inegi (National Institute of Statistics and Geography) is confirmed.

This result implies the output of the national economy from the negative terrain in which it stood during the previous quarters.

Although the rebound would be slightly below analysts’ expectations, the dynamism stands out especially in secondary activities (manufacturing, energy, construction, mining and other industries), this sector registers a jump of 2.8 percent.

For its part, primary activities (agriculture, livestock, fishing, hunting and forestry) would be registering an expansion of 2.1% during this period.

tertiary activities, trade and serviceswould show an advance of 0.6%, this implies an important pressure to the total production because this is the sector that contributes the most to the national economy (close to 60 percent).

In the immediate analysis, Mexico’s GDP also registered an important advance, with an increase of 0.9% compared to the production of the immediately previous quarter (the last of 2021).

International economic organizations and financial institutions expect Mexico to close 2022 with a expansion between 1 and 3%, expectations that continue to be cut due to the persistence of internal and external pressures.

The inegi will publish revised GDP figures for the first quarter of 2022 on May 25.

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