Mexico | GDP grew 0.9% QoQ in 1Q22 driven by industry and the tertiary sector

Summary

The industry and the tertiary sector advanced 1.1% QoQ, respectively, with greater improvements in manufacturing, wholesale commerce and tourism.

Key points

• Key points:
• Manufacturing recovers temporarily, before the effects of the war in Ukraine reflect on global value chains.
• Wholesale trade and tourism services show the highest dynamism in the tertiary sector.
• The GDP preliminary estimate for 1Q22 by INEGI suggests a downward revision in the quarterly growth rates for 2021.

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