Mexico’s economic activity expanded 2.8% from a year earlier in June, accelerating sharply from May and exceeding market expectations as services, mining and construction supported growth.
The reading was well above forecasts for a 1.1% increase and followed a 1.1% annual gain in May, according to data from Mexico’s National Institute of Statistics and Geography (INEGI).
The tertiary sector was the main growth driver, expanding 3.6% from a year earlier. Wholesale trade surged 14.3%, government-related activities increased 6.5%, and mass-media information services advanced 3.8%.
Primary-sector activity rose 2.8%, supported by a 5.3% increase in livestock production.
Mining and Construction Support Industrial Activity
Mexico’s secondary sector expanded 1.7% year over year. Mining output increased 6.6%, while construction activity climbed 5%.
Despite the stronger annual performance, the monthly figures showed some weakness. Overall economic activity declined 0.1% from May, following a 0.3% contraction in the previous month.
The figures point to stronger year-over-year momentum in Latin America’s second-largest economy, while the consecutive monthly declines indicate that underlying activity remains uneven across sectors.
INEGI is Mexico’s official national statistical agency responsible for the country’s principal economic and demographic indicators.
