Mexicos economy grew by 0.6% in July, marking its third straight month of expansion.
The National Institute of Statistics and Geography (INEGI) released this data on a recent Monday morning.This growth reflects a positive trend in the countrys economic performance.
The Global Indicator of Economic Activity (IGAE) revealed the 0.6% monthly increase.Compared to the same month last year, Mexicos economy showed 2.0% growth.
These figures paint a picture of steady economic progress.Breaking down the economic sectors, agriculture saw a significant boost.
The primary activities, which include farming, grew by 11.6% compared to the previous month.Industrial activities increased by 0.2%, while the service sector expanded by 0.4%.
Despite this positive news, some institutions have lowered their growth forecasts for Mexico.Mexican Economy Shows Steady Growth for Three Consecutive Months.
(Photo Internet reproduction)The Mexican Institute of Finance Executives (IMEF) recently cut its GDP growth prediction.
They now expect 1.5% growth this year, down from 1.7%.IMEFs president, Jos Domingo Figueroa Palacios, expressed concerns about future economic challenges.
He warned that continued constitutional reforms and threats to Mexicos participation in trade agreements could slow growth.This could potentially lead to zero or negative growth in 2025.
However, the Ministry of Finance and Public Credit remains optimistic.Led by Rogelio Ramrez de la O, they maintain a 3.0% annual growth projection.
Some critics view this forecast as overly optimistic and unrealistic.As Mexico approaches a new government under Claudia Sheinbaum on October 1st, economic uncertainty looms.The coming months will reveal whether the country can maintain its current growth trajectory or face the challenges predicted by some analysts.