Mexican Economy Expands 0.8% QoQ in Q1
The GDP in Mexico expanded 0.8 percent on quarter in the first three months of 2016, higher than 0.5 percent in the previous period, as industrial production and agriculture rebounded and services growth remained robust.
The services sector remained the main driver of growth, although it expanded at a slower 0.8 percent (0.9 percent in the previous quarter). Industrial output went up 1.5 percent, recovering from a 0.4 percent contraction in the previous three months and agriculture went up 1.2 percent, also recovering from a 1.9 percent fall in the previous period.
On a year-on-year basis, the GDP advanced 2.9 percent, the highest growth rate in three years. The central bank of Mexico lowered its growth forecasts earlier in March by 0.5 percent and expects the economy to expand between 2-3 percent in 2016.
5/20/2016 1:47:32 PM