Economy of Mexico rose for the eighth consecutive quarter between July and September, slightly above expectations, driven by strong performance in agriculture, manufacturing and services.
He Gross domestic product (GDP) showed quarterly growth of 0.9%, up from 0.8% in the previous two quarters, according to preliminary seasonally adjusted data released on Monday by statistical institute INEGI.
Analysts had expected Latin America’s second-largest economy to grow 0.8% over the period, according to a survey by Reuters.
The growth was due to an increase of 3.2% primary activity -which includes agriculture, fishing and mining – 1.4% in secondary sectors -which includes produces– and 0.6% in the tertiary sector, which covers services.
In interannual terms GDP grew 3.3% in the third quarter, compared with a 3.6% increase in the prior period’s initial figures, marking 10 consecutive quarters of growth.
Last week Deputy Minister of Finance Gabriel Yorio He said the Mexican economy will grow by at least 3.5% this year.
Final GDP data for the third quarter will be published on November 24.
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
