The Mexican economy advanced 0.2 percent on quarter in the three months to December of 2018, slowing from a downwardly revised 0.6 percent expansion in the previous period, lower than a preliminary estimate of 0.3 percent and in line with market expectations. The slowdown was mainly due to a contraction in the industrial sector. Considering full 2018, the economy grew 2.0 percent over a year ago. GDP Growth Rate in Mexico averaged 0.60 percent from 1993 until 2018, reaching an all time high of 3.20 percent in the third quarter of 2009 and a record low of -5.70 percent in the first quarter of 1995.

GDP Growth Rate in Mexico is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Mexico to stand at 0.60 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 0.90 percent in 2020, according to our econometric models.

Mexico GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-30 02:00 PM GDP Growth Rate QoQ Prel 0.9% -0.2% 0.4%
2018-11-23 02:00 PM GDP Growth Rate QoQ Final 0.8% -0.1% 0.9% 0.9%
2019-01-30 02:00 PM GDP Growth Rate QoQ Prel 0.3% 0.8% 0.3% 0.7%
2019-02-25 02:00 PM GDP Growth Rate QoQ Final 0.2% 0.6% 0.2% 0.3%
2019-04-30 01:00 PM GDP Growth Rate QoQ Prel 0.2% 0.4%
2019-05-24 01:00 PM GDP Growth Rate QoQ Final 0.4%
2019-07-31 01:00 PM GDP Growth Rate QoQ Prel 0.6%



Mexico Q4 GDP Growth Revised Down to 0.2% QoQ

The Mexican economy advanced 0.2 percent on quarter in the three months to December of 2018, slowing from a downwardly revised 0.6 percent expansion in the previous period, lower than a preliminary estimate of 0.3 percent and in line with market expectations. The slowdown was mainly due to a contraction in the industrial sector.

The industrial sector shrank 1.2 percent, compared with a preliminary reading of a 1.1 percent contraction and after a 0.2 percent expansion in the third quarter of 2018. Output declined in utilities (-1.4 percent from 1.5 percent in Q3) and dropped further in mining (-4 percent from -2.2 percent) and construction (-1.7 percent from -0.4 percent).  

The services sector increased 0.7 percent, below an initial estimate of 0.8 percent but higher than a 0.6 percent gain in the prior period. Faster growth was seen in retail trade (1.0 percent from 0.7 percent); information & communication (3.5 percent from 0.9 percent); and real estate (0.4 percent from 0.2 percent). Also, output rebounded in education (0.9 percent from -0.2 percent) and shrank less in corporate services (-1.4 percent from -2.0 percent).  On the other hand, output fell in wholesale trade (1.0 percent from 2.1 percent); cultural & sports activities (-1.5 percent from 2.2 percent); and health & social assistance (-0.3 percent from 0.5 percent). Additionally, output growth eased in transport & storage (0.1 percent from 0.5 percent); finance and insurance (1.3 percent from 4.2 percent); professional, scientific and technical services (0.3 percent from 0.4 percent); business services (0.1 percent from 1.2 percent) and food & accommodation services (0.1 percent from 0.5 percent). 

The primary sector grew 2.2 percent, above than a preliminary reading of 1.9 percent and above a 1.4 percent gain in the three months to September. 

Year-on-year, the gross domestic product expanded 1.7 percent in the last quarter of 2018, below an earlier estimate of 1.8 percent and compared to a 2.5 percent growth in the previous period. Figures also came worse than market expectations of a 1.8 percent rise. 

In 2018, the economy grew 2.0 percent over a year earlier.


INEGI |Stefanie Moya | stefanie.moya@tradingeconomics.com
2/25/2019 2:38:05 PM



Mexico GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.60 3.20 -5.70 percent [+]
GDP Annual Growth Rate 1.70 2.50 9.00 -9.10 percent [+]
GDP 1149.92 1076.91 1314.39 13.04 USD Billion [+]
GDP Constant Prices 18614517.00 18568290.00 18614517.00 9736483.00 MXN Million [+]
Gross Fixed Capital Formation 3751715.65 3778904.08 3839534.10 1475314.61 MXN Million [+]
GDP per capita 9946.16 9871.67 9946.16 3047.11 USD [+]
GDP per capita PPP 17336.47 17206.63 17336.47 10456.94 USD [+]
GDP From Agriculture 711166.10 490607.15 711166.10 326544.91 MXN Million [+]
GDP From Construction 1304744.00 1290048.00 1349021.00 616361.00 MXN Million [+]
GDP From Manufacturing 2936747.00 2964295.00 2964295.00 1579762.00 MXN Million [+]
GDP From Mining 849324.00 894981.00 1339290.00 849324.00 MXN Million [+]
GDP From Public Administration 716017.67 686645.27 747616.63 552862.50 MXN Million [+]
GDP From Services 12146159.32 11623933.11 12146159.32 5606905.89 MXN Million [+]
GDP From Transport 1224615.00 1207871.00 1224615.00 557632.00 MXN Million [+]
GDP From Utilities 268315.00 295364.00 295364.00 93738.00 MXN Million [+]


Mexico GDP Growth Rate

In Mexico, services account for 62 percent of total GDP. The biggest segments within services are: wholesale and retail trade (16 percent); real estate (10 percent); transport, warehousing and communications (7 percent) and financial services and insurance (6 percent). Industry constitutes 18 percent of output and the largest segments within this sector are: automobile industry (4 percent of total GDP) and food industry (3.8 percent). The remaining share is divided by: construction, water, gas and electricity distribution (8 percent), mining (5 percent), government (4 percent ) and agriculture, forestry, fishing and hunting (3 percent). This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.60 3.20 -5.70 1993 - 2018 percent Quarterly
SA




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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