FX.co ★ Mexico GDP Growth Improves To 2.1%, Less Than Estimated

The latest data from the National Institute of Statistics and Geography (INEGI) reveals that the Mexican economy's expansion in the second quarter was slightly less than initially estimated.

Gross domestic product (GDP) grew by an unadjusted 2.1% year-over-year in the June quarter, following a revised 1.5% increase in the March quarter. The initial estimate had pegged the growth rate at 2.2%.

Among the major economic activities, the tertiary sector saw the highest annual growth at 2.5% in the June quarter, up from a 2.0% gain in the previous quarter.

The secondary sector's annual growth also improved, reaching 1.8% compared to 1.0% in the earlier quarter. On the flip side, the primary sector contracted by 2.8%, worsening from a 2.3% decline in the preceding three-month period.

On a seasonally adjusted basis, GDP advanced by 0.2% in the second quarter, aligning with estimates.