Nuevo León would grow 5.90% with reopening of businesses, says UANL

MONTERREY – The base growth scenario for 2021 in Nuevo León, according to the projection of the Quarterly Index of Economic Activity (ITAE), is 4.85%, but if there is an expansion in the reopening in the sectors that have been closed off becasuse of the pandemic, it could grow up to 5.90%.

“This, applied to the state GDP of the base scenario, represents the additional generation of US$982 million in 2021, as well as a total of 78,740 jobs directly and indirectly linked,” said Joana Chapa Cantú, director of the Center for Economic Research at the Autonomous University of the state (UANL).

The objective of this analysis is to forecast GDP growth given the possible expansion of the sectors that have been the most restricted beceause of COVID-19, as well as quantify the direct and indirect employment linked.

In the reopening scenario, the increase in ITAE is the sum of the additional growth of 0.51% in retail trade, 0.13% in leisure, cultural, sports and recreational services and 0.41% in temporary accommodation services and food preparation and beverages.

Chapa Cantú commented that the growth that the state had before the pandemic could not be reached, as it will depend on how the vaccination plan evolves. Source: El Economista