Macroeconomic Forecast Mexico

April 2008 | Macroeconomic Forecasts

Economic activity accelerated in January, as the IGAE index, a proxy for GDP that covers 96% of the economy, rose by 0.9% m-o-m on a seasonally adjusted basis, its fastest rate in over two years. The growth rate has improved steadily since the start of 2007, and January's 4.2% y-o-y figure is a sharp increase from December's 3.2% y-o-y. This adds to the list of figures that suggest economic growth may surprise to the upside in Q108. Indeed, retail sales grew by 3.9% y-o-y in January from 1.1 % a month earlier, and industrial output rose by 3.1% y-o-y, up from 1.3%.

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