Mexican Economy Expands 2% YoY In Q3

The GDP in Mexico advanced 2 percent year-on-year in the third quarter of 2016, matching preliminary estimates and following 2.6 percent expansion in the previous period. It is the lowest growth rate since the second quarter of 2014, mainly due to a slump in an industrial output.

Industrial production fell 0.8 percent, compared to a 0.9 percent growth in the previous period. The mining sector declined 8.2 percent, following a 4.8 percent drop in the previous period. Manufacturing advanced at a slower 1.2 percent (+1.6 percent in Q2); construction growth stalled (+3.1 percent in Q2) and utilities rose 3.5 percent (+5.7 percent in Q2). 

The services sector expanded 3.4 percent (3.3 percent in Q2) mainly due to an acceleration in financial and insurance activities (+8 percent from +7.5 percent); corporate (+6.6 percent from +4.8 percent); and cultural and recreational services (+10.8 percent from +4.3 percent) while internal trade growth slowed down (+1.3 percent from 2.3 percent in Q2) and transportation increased only 2.3 percent (+3.3 percent in Q2).

The agricultural sector advanced 5.3 percent, compared to 2.9 percent in the previous period.

On a quarterly basis, the economy expanded 1 percent, compared to 0.1 percent growth in the previous period.  

Mexican Economy Expands 2% YoY In Q3

INEGI | Yekaterina Guchshina |
11/23/2016 2:36:44 PM