Key facts
- Mexico's economy grew 1.2% in April compared to March.
- This marks the largest monthly expansion in over five years.
- Industrial activity rose 2.1% in April from March.
- Construction work surged 7.6%, its strongest since August 2020.
- Manufacturing added a 1.2% gain on the month.
- Annual economic expansion was 2.3%.
Mexico's economy experienced its most significant monthly expansion in over five years in April, with a 1.2% increase from March, according to official data. This growth surpassed analyst expectations of 0.9% and marked the largest month-on-month expansion since March 2021.
The surge was primarily driven by the secondary sector, which includes construction and manufacturing, seeing a 2.1% rise. The tertiary sector also contributed with a 0.7% increase. On an annual basis, the economy grew by 2.3%, exceeding the forecasted 1.8% expansion.
Industrial activity, a key component, posted its biggest monthly jump in five years, with construction leading the charge with a 7.6% surge. Manufacturing also contributed positively with a 1.2% gain. This rebound reversed a 0.5% dip recorded in the previous month. However, some analysts caution that a single strong month does not necessarily indicate a sustained trend.