Mexico GDP Growth Beats Expectations

Mexican economy advanced 1.6 percent year-on-year in the second quarter of 2014, down from a revised 1.9 percent increase in the previous period. Despite the slowdown, second quarter figures came above market expectations.

The agriculture sector grew 2.6 percent year-on-year in the second quarter of 2014, slowing from a 4.6 percent expansion in the previous period. 

Industrial output expanded 1 percent yoy, down from 1.6 percent in the preceding quarter. The mining sector kept its downward trend and fell 1 percent while construction shrank at a slower 0.6 percent.  Manufacturing output increased 2.4 percent (4.4 percent in the first quarter) and electricity, water and gas supply rose 1.4 percent (compared with 1.6 percent).

The services sector advanced 1.8 percent (1.9 percent in the previous quarter). Information and media activities grew the most on the year (4.7 percent), followed by accommodation services (4 percent). Growth in the retail sector slowed to 1.8 percent from 2.1 percent in the previous quarter. 

On a quarter-on-quarter seasonally adjusted basis, the economy grew 1.0 percent (up from a revised 0.44 percent in the previous three months).

Mexico GDP Growth Beats Expectations

Joana Taborda |
8/21/2014 6:11:18 PM