Mexico Records 0.7 Percent Monthly GDP Growth: INEGI
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Mexico Records 0.7 Percent Monthly GDP Growth: INEGI

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Emilio Aristegui By Emilio Aristegui | Junior Journalist and Industry Analyst - Mon, 11/28/2022 - 12:21

Mexico’s National Institute of Statistics and Geography (INEGI) announced that the Mexican economy continued to record a minimal growth during September2022, as the country continues to face a stagnant recovery with critical inflationary pressures. 

“In September 2022 and with seasonally adjusted figures, the Global Indicator of Economic Activity (IGAE) increased 0.7 percent at a monthly rate. By component and with data adjusted for seasonality, the monthly variation was the following in September 2022: tertiary activities increased 1 percent; primaries, 0.5 percent and secondary fell 0.2 percent,” reads INEGI’s press release. 

In September, the IGAE advanced 5.1 percent in real terms. Mexico’s primary activities grew 7.9 percent, tertiary activities by 5.5 percent and secondary activities by 4.3 percent. Seasonal and calendar factors regularly affect the calculation of economic series, as INEGI adjusts the data to obtain the most precise results with seasonally adjusted figures. INEGI analyzes all economic variables that affect the Mexican economy.

In August 2022, primary activities grew by 3.6 percent, tertiary by 1.2 percent and secondary reported no change. At an annual rate and with seasonally adjusted series, the IGAE advanced 4.7 percent in real terms during that period, as reported by MBN. 

INEGI relies on international guidelines on national accounting established by the United Nations (NU), the Organization for Economic Co-operation and Development (OECD), the World Bank (WB), the Fund International Monetary Fund (IMF) and the European Commission.

Photo by:   Image by AhmadArdity from Pixabay

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