The Mexican economy grew 4.3% in the third quarter of 2022

By component and with seasonally adjusted series, the GDP of primary activities grew 2%; tertiary, 1.1% and secondary, 0.6% compared to the previous quarter.

At an annual rate, GDP increased 4.3% in real terms. By large groups of economic activities, the GDP of tertiary activities rose 4.5%; that of secondary schools, 3.7% and that of primary schools, 3.2%.

Taking into account the first 9 months of the year, GDP increased 2.8% at the annual rate.

The advance of 0.9% is lower than the timely estimate issued by the Inegi three weeks earlier, when it was calculated that the GDP had increased 1.03% at a quarterly rate. In any case, quarterly GDP growth of 4.3% is higher than the 4.2% estimate.

Although it should be remembered that, in the third quarter of 2021, GDP contracted 0.5%, therefore the 4.3% annual increase, in the third quarter, entails the mathematical effect of a low base of comparison.

The economy advances in September

The Inegi also published the Global Indicator of Economic Activity (IGAE) for September, which shows a monthly advance of 0.7% in Mexican economic activity and an increase of 5.1% compared to the same month in 2021.

At a monthly rate, tertiary activities increased 1%; the primaries, 0.5% and the secondary fell 0.2 percent.

At an annual rate, the IGAE advanced 5.1% in real terms. By large groups of activities, primaries grew 7.9%; tertiary, 5.5% and secondary, 4.3%.