Aug 22 (Reuters) – Mexico’s economy expanded by 0.6% in the second quarter compared to the prior three-month period, according to data released Friday by the national statistics agency INEGI.
The figure slightly undershot both INEGI’s initial projection and expectations from economists surveyed by Reuters, which had anticipated a 0.7% increase.
Growth was primarily driven by secondary and tertiary sectors—covering manufacturing and services—which grew 0.7% and 0.8% respectively on a sequential basis.
In contrast, primary activities, including agriculture, fishing, and mining, declined by 2.4%.
On a year-on-year basis, the economy showed no growth during the quarter, falling short of the 0.1% expansion forecasted by analysts in the Reuters survey.
Reporting by Paolo Laudani; Editing by Gabriel Araujo
— News Original —
Mexico economy grows slightly less than expected in Q2
Aug 22 (Reuters) – Mexico’s economy grew 0.6% in the second quarter from the previous three-month period, national statistics agency INEGI said on Friday. n nThe data came in slightly below INEGI’s preliminary estimate published last month and forecasts from economists in a Reuters poll, both of which pointed to a 0.7% expansion. n nSign up here. n nGrowth in the quarter was fueled by secondary and tertiary activities, respectively covering manufacturing and services, which rose 0.7% and 0.8% on a sequential basis, according to INEGI. n nPrimary activities, which include farming, fishing and mining, slipped 2.4%. n nIn annual terms, Mexico’s economy was flat in the period – below the 0.1% expansion expected by economists in the Reuters poll. n nReporting by Paolo Laudani; Editing by Gabriel Araujo