Economy 30-10-2018

Mexico's economy grows in the third quarter of 2018

Mexico's gross domestic product (GDP) increased 0.9% "in real terms", between July and September 2018, compared to the previous quarter, with figures adjusted for seasonality, according to the "Timely Estimation" "of the National Institute of Statistics and Geography (INEGI).

"In its annual comparison, the Estimated Gross Domestic Product, with series adjusted for seasonality, observed a real increase of 2.7% in the quarter in question compared to the third quarter of 2017," the state agency reported in a report Newspaper.

By component, tertiary (commerce, services, transportation) and primary (agriculture, fishing and mining) grew by 0.8% each.

Regarding secondary activities (industries and manufactures) they did so in 0.5% during the July-September 2018 quarter compared to the previous one.

By economic activities, the GDP of the tertiary activities advanced 3.4%, that of the primary 2.2% and that of the secondary 1.1% compared with the same period last year.

The impulse of consumption after the end of the North American trade negotiations are part of the explanation of the result.

The timely estimates provided in this report could change with respect to the figures generated for the traditional quarterly GDP, which will be published on November 23, 2018.

The World Bank forecasts a growth of the Mexican economy from 2.2 to 2.1% in this year 2018, due to the uncertainty due to the commercial renegotiation that must be ratified by the congresses of Mexico, the US and Canada in 2019.

Mexico is the second Latin American power, after Brazil, and its results in recent years indicate that it grew 2.3% in all of 2017; 2.7% in 2016; 3.3% in 2015, and 2.8% in 2014.

The board of governors of the Mexican central bank held at its most recent meeting the forecast of growth of the Mexican economy, but some members noted a "high degree of uncertainty" before the new government of the president-elect, Andrés Manuel López Obrador.

According to the minutes of its most recent meeting published on October 18, the majority of the governing board held that "it is foreseeable that the growth of the product will be within the ranges announced in the last quarterly report, from 2.0 to 2. , 6% in 2018, and from 1.8 to 2.8% in 2019, "says the document signed by the five board directors.

López Obrador has promised that the country's economy will grow at a rate of 4% per year, at the end of his term in 2024.


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