FX.co ★ Mexico Q3 GDP Growth Eases Less Than Estimated

The growth of the Mexican economy in the third quarter was less restrained than initially anticipated, as indicated by preliminary data from the National Institute of Statistics and Geography (INEGI) released on Friday.

In the September quarter, the country's gross domestic product (GDP) saw an unadjusted increase of 1.6 percent on a year-over-year basis. This marks a deceleration from the 2.2 percent growth recorded in the June quarter. Earlier, a preliminary estimate had suggested a growth rate of 1.5 percent.

Among the major economic sectors, the primary sector demonstrated the most significant expansion, achieving a 4.1 percent annual growth in the third quarter, a notable recovery from the 3.4 percent decline in the previous quarter.

Conversely, the tertiary sector's annual growth slowed to 2.2 percent from the previous quarter's 2.8 percent. Likewise, growth in the secondary sector decreased from 1.8 percent to 0.5 percent.

When adjusted for seasonal variations, GDP advanced by 1.1 percent in the third quarter, revised upwards from an earlier estimate of 1.0 percent.