Mexico GDP Growth Disappoints in Q4

In the last three months of 2013, Mexican economy slowed for the second straight quarter expanding only 0.7 percent over a year earlier, hurt by lower production in agriculture and mining.

The primary sector contracted 0.3 percent year-on-year, hurt by lower production of sugar, maize, mango, onions and oranges. 

The secondary sector shrank for the fourth straight quarter by 0.4 percent. Growth in manufacturing production (1.9 percent) and in electricity and water supply (0.8 percent) was not enough to offset a drop in construction (-4.6 percent) and mining output (-0.9 percent). 

The tertiary sector was the main source of growth but rose at a slower rate (1.3 percent). Support services recorded the highest expansion (2.8 percent), followed by the retail sector (2.4 percent). 

For full 2013, the GDP expanded at a significantly lower 1.1 percent, down from 3.9 percent in 2012.

Mexico GDP Growth Disappoints in Q4

Joana Taborda |
2/21/2014 2:26:50 PM