MEXICO CITY, June 23 (Reuters) – Mexico’s economy posted its largest monthly expansion in more than five years in April, ahead of expectations, according to official data published on Tuesday.
Mexico’s economic activity grew 1.2% in April from the prior month, the national statistics agency said, compared with a revised increase of 0.6% in March and beating a forecast of a 0.9% increase in a Reuters poll of analysts.
Activity in Latin America’s second-largest economy posted its sharpest month-on-month expansion since March 2021 supported by the secondary sector, including construction and manufacturing, and the labor-intensive tertiary sector that increased by 2.1% and 0.7%, respectively.
On an annual basis, the economy also beat forecasts with a 2.3% expansion. Analysts had expected a 1.8% increase.
(Reporting by Aida Pelaez-Fernandez and Ricardo Figueroa; Editing by Andrew Heavens)
Comments