The Mexican national economy

The Mexican economy, has shown a positive, dynamic and balanced behavior in its internal and external sectors, and according to the Weekly Report of the Ministry of Finance and Public Credit, growth is related to the soundness of its macroeconomic fundamentals.

Domestically, the federal agency maintained that a favorable evolution of private consumption is perceived, supported by the constant arrival of remittances to the country, as well as the generation of jobs and the recovery of workers’ wages, that is why thousands of small and medium-sized companies as Mexico Dental Network for dental work have seen a significant improvement in their business.

The preceding, the Master in Taxes abounded, is the result of an excellent dynamic informal employment since 370 thousand jobs were generated in the first three years, the highest number registered in a similar period.

The taxpayer advocate said that another economic support factor is found in the implementation of structural reforms, which contributes to raising the resilience of the Mexican economy in the face of external shocks.

For its part, the International Monetary Fund, in its recent global economic outlook report, precisely predicts that the Mexican economy will accelerate from the 2 percent observed in 2017, to 2.3 percent in 2018 and 3 percent in 2019.

Besides, he explained that the General Index of Economic Activity grew 0.7 percent in February, compared to the figures for January, according to data and records of the National Institute of Statistics and Geography.

Tertiary activities rose 0.7 percent and secondary operations showed an advance of 0.4 percent while agricultural activities decreased 0.6 percent in the second month of the year compared to January, the lawyer said.

In year-on-year terms, economic activity rose 2.4 percent in February against the same month of 2017, its highest year-on-year increase since August 2017, which shows the growth of our economy; The Mexican government maintained its growth expectations for 2018 between 2 and 3 percent until the end of March.

The services sector, the primary driver of the national economy, reported an annual growth of 2.9 percent based on original figures, its most significant expansion since August 2017.

The nine components that integrate the tertiary activities of the economy showed progress, in which the businesses that supply the domestic market stood out. On the one hand, the retail trade increased 5.4 percent annually and, at the same time, the wholesale trade grew 5.1 percent. Percent over the previous year.

The manufacturing sector managed to get out of a four-month contraction slump, recording a 0.9 percent annual growth during January.

Finally, the construction sector spun two months of growth, reporting a 4 percent annual expansion during the first month of 2018.