LatinNews Daily - 26 July 2023

In brief: Mexico’s economic activity stagnates in May

* Mexico’s national statistics institute (Inegi) has released the latest figures for its monthly global indicator of economic activity (IGAE) which show no variation in economic growth in May 2023, as compared to the previous month. In comparison to April, economic activity in May increased by 0.3% in the primary (agriculture) sector and by 1% in the secondary (industry) sector, but decreased by 0.4% in the tertiary (services) sector. In year-on-year terms, the IGAE rose 3.2% in real terms, driven largely by a 3.5% increase in the tertiary sector, while secondary and primary sectors were up 2.8% and 0.5% respectively.

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