|Mexico's Global Economic Indicator Rises In May|
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July 27, 2010
Mexico's global economic indicator, or IGAE, increased 8.85% year-on-year in May, faster than the 7.37% rise in April, the statistical agency INEGI said Tuesday.
Economists were expecting the indicator to post an 8.5% increase. The indicator recorded an annual growth for the sixth month in a row. Compared to the previous month, IGAE rose a seasonally adjusted 0.21%.
The indicator for primary activities showed an increase of 9.2% in May, much faster than the 4.84% increase in April. However, month-on-month, agricultural output fell 0.13%.
Output of secondary activities or industries rose 8.41% compared to 6.4% increase in April. On a monthly basis, the output rose 0.49%. Production in tertiary industries or services went up 8.43% annually compared to 7.51% in the previous month. Output increased 0.58% on a monthly basis.
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