Financial News: Mexico GDP Growth Improves To 2.1%, Less Than

Mexico GDP Growth Improves To 2.1%, Less Than Estimated

08/22/2024 - 09:17:00 (RTTNews)

(RTTNews) - The Mexican economy expanded slightly less than initially estimated in the second quarter, the latest data from the National Institute of Statistics and Geography, or INEGI, showed on Thursday.

Gross domestic product advanced an unadjusted 2.1 percent year-over-year in the June quarter, following a revised 1.5 percent growth in the March quarter. In the initial report, the rate of growth was 2.2 percent.

Regarding large economic activities, the tertiary sector expanded the most, by 2.5 percent annually in the June quarter, faster than the 2.0 percent gain in the previous quarter.

Similarly, the annual growth in the secondary sector improved to 1.8 percent from 1.0 percent. Meanwhile, the primary sector contracted 2.8 percent versus a 2.3 percent fall in the previous three-month period.

On a seasonally adjusted basis, GDP advanced 0.2 percent in the second quarter, as estimated.

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