Mexico Economic Activity Up 5% In July

The Mexican economy recorded another month of growth in July, expanding by 5% year on year, as measured by the economic activity index (IGAE). Month-on-month, economic activity grew 0.23%. The July growth was driven by industry, which expanded 5.8%. Agriculture grew 5%, while services were up 4.9%. The IGAE is only an indicator of Mexico’s economic activity as it does not include all activity that contributes to the country’s GDP.