The National Institute of Statistics and Geography (Inegi) released this Wednesday the report Quarterly Indicators of Quarterly Global Supply and Demand (ODGT) and the Quarterly Indicator of Gross Savings (ITAB) for the second quarter of 2024, in which it was observed, among other factors, a drop in private consumption and exports of goods and services .
According to the report, in this period, the global supply of goods and services (equal to global demand) decreased by 0.4% in real terms compared to the previous quarter.
Domestically, the Gross Domestic Product (GDP) grew by 0.2% , and imports of goods and services fell by 2.5% during that period.
Inegi reported that with seasonally adjusted figures, the components of global demand had the following behavior: private consumption, which is one of the country’s economic drivers, fell 0.6% in the second quarter of this year.
Meanwhile, exports of goods and services reported a decline of 0.2% in the period in question.
In turn, Gross Fixed Capital Formation (GFCF) increased 0.4% and government consumption grew 0.8% in the April-June 2024 period.
Inegi stated that the ITAB represents the part of income generated in production, domestic or foreign, that is not spent on final consumer goods and services, and allows economic agents to finance the acquisition of assets.
He explained that in the second quarter of 2024 and with seasonally adjusted figures, gross savings , at current prices, increased by 0.6% compared to the previous quarter; while savings in the domestic economy grew by 3.9% at a quarterly rate, while financing from abroad decreased by 65.2 percent.
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