Mexico GDP Growth Highest in 2 Years


The Mexican economy advanced 2.6 percent year-on-year in the last three months of 2014, up from 2.2 percent in the previous period and matching market expectations. The growth was boosted by retail sales, manufacturing and construction while mining was dragged down by lower oil output.

The services sector grew 2.9 percent, up from a 2.1 percent rise in the previous period. Internal trade expanded 5.4 percent (3.9 percent in the previous quarter) while real estate increased at a slower 2.1 percent (2.3 percent in the third quarter). Transportation and storage went up 2.5 percent and financial and insurance services rose 2 percent (1.2 percent and 1 percent respectively in the previous period). 

The industrial sector expanded 2.4 percent (2 percent in the third quarter), driven by a 4.6 percent increase in manufacturing (3.3 percent in Q3) and a 5.9 percent surge in construction (3.7 percent in Q3). In contrast, the mining sector shrank 5.7 percent, after falling 2.1 percent in the three months to September. 

Agriculture rose 1.1 percent, slowing sharply from a 6.8 percent surge in the third quarter. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.7 percent in the last three months of 2014, slightly up from 0.5 percent in the previous period but below market expectations.

Considering full 2014, the economy expanded 2.1 percent, short of the 3.9 percent that the government had forecasted at the start of 2014.

Mexico GDP Growth Highest in 2 Years


Joana Taborda | joana.taborda@tradingeconomics.com
2/20/2015 3:07:04 PM