Financial News: Mexico Q3 GDP Growth Eases Less Than Estimated

Mexico Q3 GDP Growth Eases Less Than Estimated

11/22/2024 - 08:32:00 (RTTNews)

(RTTNews) - The Mexican economic growth moderated less than initially estimated in the third quarter, preliminary data from the National Institute of Statistics and Geography, or INEGI, showed on Friday.

Gross domestic product advanced an unadjusted 1.6 percent year-over-year in the September quarter versus 2.2 percent growth in the June quarter. In the flash estimate, the rate of growth was 1.5 percent.

Regarding large economic activities, the primary sector expanded the most, by 4.1 percent annually in the third quarter, recovering from the 3.4 percent fall in the previous quarter.

Meanwhile, the annual growth in the tertiary sector eased to 2.2 percent from 2.8 percent. Similarly, the secondary sector growth moderated from 1.8 percent to 0.5 percent.

On a seasonally adjusted basis, GDP advanced 1.1 percent in the third quarter, revised up from 1.0 percent.

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