James Salazar, deputy director of economic analysis at Ci Banco explained that the services sector continues to grow above 3.5 percent annually and that employment growth will remain steady due to expansion of the export sector.
Exports and economic activity are higher than forecasted growth at the beginning of the year. It seems that companies are trying to take advantage of favourable economic headwinds to export.
Mexico’s manufacturing sector increased during February at a rate of 3.6 percent per year, the most significant growth since April 2011.
Statistics indicate that since October last year, manufacturing employment has been constantly expanding. Computer and communication equipment manufacturing have driven the growth of the labour force the most.
In the second half of last year the number of manufacturing jobs advanced at an average rate of 6.7 percent, while in the first two months of 2017, it has remained at an expansion rate of eight percent.