LatinNews Daily - 24 June 2024

*Mexico’s national statistics institute (Inegi) has released the latest figures for the global indicator of economic activity (IGAE), which showed the economy grew by 0.9% year-on-year in seasonally adjusted terms in April, with activities in the tertiary sector (services) up 1.3% and in the secondary (manufacturing) sector up 0.6%. Conversely, primary activities (agriculture) saw a decline of 1.0%. In seasonally adjusted terms, the IGAE showed a monthly decrease of 0.6%. All activities experienced contractions compared to the previous month: the primary sector fell by 2.5%, the secondary sector by 0.5%, and the tertiary sector by 0.6%. Despite the monthly decline in April, Mexico’s economic activity registered a 2.6% year-on-year increase in the first four months of 2024 in real terms. Primary activities rose by 0.1%, secondary activities by 1.9%, and tertiary activities by 3.1% as compared to the same period of 2023.