Mexico GDP Growth Revised Down in Q4

The Mexican economy advanced 0.8 percent on quarter in the last three months of 2017, rebounding from a downwardly revised 0.2 percent contraction in the previous period but below initial estimates of a 1 percent growth. Still, it was the strongest expansion in four quarters as growth in agriculture and services was enough to offset a contraction in industry.

Services were main driver of growth, expending 1 percent, below 1.2 percent reported in a preliminary estimate but compared to no growth in the third quarter. Also, agriculture grew 2.1 percent, below 3.1 percent in a preliminary estimate but following a 1.5 percent rise in Q3. 

Industrial output edged down 0.1 percent, extending losses for the third quarter and below 0.1 percent rise in the preliminary estimate. The contraction slowed for mining and quarrying (-1.1 percent versus -4.7 percent) and utilites (-0.2 percent versus -0.4 percent). On the other hand, construction rebounded (0.4 percent compared to -0.3 percent) and manufacturing rose slightly faster (0.7 percent compared to 0.5 percent). 

Year-on-year, the GDP rose 1.5 percent, the least since the last quarter of 2013, and below an upwardly revised 1.6 percent rise in the third quarter and initial estimates of 1.8 percent.

Considering full 2017, the economy grew 2 percent, the least since 2013 and below 2.1 percent in the previous estimate and 2.9 percent in 2016.

Mexico GDP Growth Revised Down in Q4

Joana Taborda |
2/23/2018 4:21:33 PM