Mexican GDP Growth Accelerates in Q1

Mexican economy advanced 1.8 percent year-on-year in the first quarter of 2014, up from a 0.7 percent expansion in the previous three months. It is the fastest growth rate in five quarters, as agriculture and manufacturing rebounded.

The agriculture sector grew 4.9 percent year-on-year, recovering from a 0.2 percent contraction in the previous three months, due to higher production of corn, avocado, orange and potatoes. 

Industrial output expanded 1.6 percent yoy, after contracting for four consecutive quarters. Manufacturing increased 4.3 percent; water, gas and energy output rose 1.4 percent; oil production fell 1.3 percent and construction shrank 2.8 percent. 

The services sector advanced at a slower 1.8 percent (2.1 percent in the previous quarter), driven by the trade and real estate sectors. 

On a quarter-on-quarter seasonally adjusted basis, the economy accelerated slightly and grew 0.3 percent (up from a revised 0.13 percent in the previous three months).

Mexican GDP Growth Accelerates in Q1

Joana Taborda |
5/23/2014 3:28:46 PM