Mexican economy grows slightly more than expected in third quarter

At the end of October, the institution had forecast that Latin America’s second largest economy would have expanded 1.0% in the quarter.

The Inegi noted that primary activities – which include agriculture, fishing and mining – grew by 4.9%, higher than the 4.6% initially calculated, while tertiary activities – which cover services – advanced by 1.1%, also a better performance than the preliminary 0.9%.

Meanwhile, secondary activities – which include manufacturing – remained unchanged at 0.9%.

At an annual rate, GDP grew at 1.6% in the third quarter, also slightly higher than the 1.5% previously estimated.