Mexico Annual GDP Growth Revised Up To 2.4% In Q4


The Mexican economy advanced 2.4 percent year-on-year in the last quarter of 2016, above 2.2 percent in the first estimate and higher than an upwardly revised 2.1 percent expansion in the previous quarter. Growth was steady for services and accelerated for agriculture while industrial output stalled, compared to a fall initially estimated, final figures showed.

The services sector rose 3.4 percent, above 3.2 percent in the preliminary estimate and the same as in the previous quarter. Activities increased faster for internal trade (2.6 percent form 1.3 percent in Q3); transportation (2.7 percent from 2.3 percent); restaurants and hotels (3.1 percent from 3 percent) and business support services and waste management and remediation (6.4 percent from 2.2 percent). In contrast, slowdown was seen for: financial and insurance (7.2 percent from 7.9 percent); professional, scientific and technical (4.4 percent from 7 percent); corporate services (1.7 percent from 6.6 percent); education (0.5 percent from 1.5 percent) and recreation and culture (5.2 percent from 10.8 percent). Real estate activities rose 1.8 percent, the same as in the previous period. 

Agriculture went up 6.4 percent, above 6.2 percent in earlier figures but below 6.8 percent in the previous quarter.

Industrial production stalled, compared to a 0.2 percent decline in the earlier release and a 0.8 percent contraction in the previous quarter. Oil went down 10.5 percent and non-oil mining output fell 5.4 percent, offsetting rises in construction (3 percent), utilities (2.8 percent) and manufacturing (1.9 percent).

On a quarterly basis, the economy advanced 0.7 percent, slowing from an upwardly revised 1.1 percent rise in the previous period but higher than 0.6 percent in the preliminary estimate. 

Considering full 2016, the Mexican GDP grew 2.3 percent, below 2.6 percent in 2015. The industrial sector was flat, services increased 3.4 percent and agriculture went up 4.1 percent. 

Mexico Annual GDP Growth Revised Up To 2.4% In Q4


Joana Taborda | joana.taborda@tradingeconomics.com
2/22/2017 4:48:40 PM