Mexican Economic Activity Up 2.6% in January

laht.com

MEXICO CITY – Mexico’s IGAE economic activity index rose 2.6 percent in January relative to the same month of 2014, driven by growth in the agricultural sector, the National Institute of Statistics and Geography, or Inegi, said Wednesday.

In a statement, Inegi said the rise in that index was the result of 13.4 percent growth in primary activities (agriculture), an 0.8 percent increase in secondary activities (services) and a 3.1 percent rise in tertiary activities (manufacturing).

In seasonally adjusted terms, the IGAE rose 0.2 percent in January compared to December thanks to a 6.7 percent increase in agricultural activity and a 0.4 percent rise in the services sector, while manufacturing contracted by 0.4 percent.

The IGAE is a preliminary indicator that indicates the direction of Mexico’s economy in the short term.

Mexico’s gross domestic product rose 2.1 percent in 2014, up from the 1.4 percent growth rate registered in 2013 but well short of the government’s forecast for 3.9 percent growth.