The Mexican economy will improve its performance between July and August driven by a better dynamism in the most important sectors: secondary activities and tertiary activities.

Preliminary figures reflected by the Timely Indicator of Economic Activity (IOAE) show that the economy would grow 2.9% year-on-year, after 1.8% during the previous month.

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Secondary activities, which include the manufacturing industry, construction, the energy, water and gas sectors, and mining, would be making a jump of 3.1% during this month.

For its part, this August, tertiary activities -which integrate commerce and services- would be growing 2.6% compared to the same month of the previous year.

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These increases significantly push the dynamism of the general economy; together they contribute 9 out of every 10 pesos of Mexico's total GDP.

Analysts and financial institutions expect the Mexican economy to close 2022 with growth of between 1.5 and 2.0% in year-on-year terms. Although the economic expansion and the post-pandemic recovery process have been less than expected, experts rule out that the country is at risk of an economic recession.

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Original note