Mexico GDP Expands 2.2% in Q3

Mexican GDP growth accelerated to 2.2 percent year-on-year in the third quarter of 2014 from 1.6 percent in the previous period. It is the highest gain in seven quarters as industrial production increased at a faster pace.

The agriculture sector advanced 7.3 percent year-on-year in the July to September period up from a 2.5 percent increase in the previous quarter, driven by crop production.

Industrial output grew 2 percent year-on-year in the third quarter of 2014, from 1.1 percent in the second quarter of 2014. Construction advanced 4 percent, manufacturing went up 3.2 percent and electricity, housing and water grew 1.5 percent. In contrast, mining fell 2.1 percent.

The services sector expanded 2 percent year-on-year, marginally up from 1.9 percent in the previous three months. Trade recorded the highest increase (+3.9 percent), followed by education (+2.5 percent) and real estate and rental (+2.3 percent).

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.5 percent in the three months to September.

Mexico GDP Expands 2.2% in Q3

Carolina Cunha |
11/21/2014 5:12:17 PM