The expansion observed in that month is the largest on record since September 2020, when the economy grew 2.7%.

Economic activity reported a monthly rebound in February, which represented the largest expansion on record since September 2020, according to information released by the National Institute of Statistics and Geography (Inegi) in Mexico.

In the second month of the year, the Global Indicator of Economic Activity (IGAE) showed a monthly variation of 1.4%, which represents a rebound after the economy fell 0.9% in January.

The expansion observed in February is the largest on record since September 2020, when the economy grew 2.7%.

“The publication of the IGAE for February continues to show a complex panorama for Mexico's GDP growth during the first quarter, since although a monthly growth of 1.4% is observed, the monthly contraction of February was revised downwards from 0.6% to 0.9%,” highlighted Gabriela Siller, director of Economic and Financial Analysis at Banco Base.

In this sense, and with the projection of a monthly growth of 0.2% in March, Siller calculated that the GDP for the first quarter would show a quarterly contraction of 0.13%, and an annual growth of 1.84%, the lowest since January 2021.

In its annual comparison, the IGAE showed an increase of 2.6%.

Within the Inegi report, on a monthly basis, it was observed that the greatest growth occurred in primary activities, which are those dedicated to sectors such as fishing, hunting, livestock and similar. The expansion was 16.5% monthly.

Tertiary activities, for their part, showed a monthly growth of 1.2%, while the secondary sector, which includes services, had a contraction of 0.1%.