Economic developments and outlook During 2012, Mexico has continued a process of economic recovery which began in the middle of 2009. In the first quarter of this year, GDP increased 4.6 percent versus a year ago, a rate that surpasses the growth observed both in the first and the last quarters of 2011.
All major demand components expanded significantly, especially exports of goods and services and domestic investment. Available data suggest that this upward trend continued during the second quarter. In particular, during April and May, year-over-year growth as measured by the Global Economic Activity Indicator (IGAE), a monthly GDP proxy, averaged 4.4 percent, with its two main components, the industrial and services sectors, showing considerable momentum.