Mexico's economy grows 0.9% in third quarter, exceeding forecasts
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2023-10-31 21:22
Mexico's economy expanded for the eighth consecutive quarter between July and September, driven by domestic consumption and industrial

Mexico's economy expanded for the eighth consecutive quarter between July and September, driven by domestic consumption and industrial activity, a preliminary estimate from national statistics agency INEGI showed on Tuesday.

Latin America's second-largest economy posted 0.9% gross domestic product (GDP) growth in the third quarter compared to the previous three-month period, and slightly above the 0.8% expected by economists polled by Reuters.

The quarterly growth, INEGI said, was driven by a 3.2% jump in the primary sector and an increase of 1.4% in secondary activities.

Compared with the same quarter a year earlier, the Mexican economy also grew 3.3%, the statistics agency added, also slighlty above the projected 3.2% growth, continuing the streak of annual growth.

(Reporting by Ricardo Figueroa, Writing by Natalia Siniawski; Editing by Steven Grattan and Nick Zieminski)

Tags economy epus finance gdp mexico