Mexican Economy Expands 0.28% QoQ in Q1


Mexican GDP advanced a seasonally adjusted 0.28 percent in the first three months of 2014, slightly up from a downwardly revised 0.13 percent expansion in the previous quarter, but below from market expectations.

Agriculture shrank slightly in the quarter (-0.01 percent), after growing 1 percent in the last three months of 2013. Industrial production rose a meager 0.7 percent and services expanded 0.2 percent.

Year-on-year, the GDP grew 1.8 percent in the first quarter of 2014, accelerating form a 0.7 percent expansion in the previous three months. Although it is the highest growth rate in five quarters, it is much below the 2011 levels. The Bank of Mexico recently cut its 2014 GDP estimates to 2.3 to 3.3 percent from an earlier 3 to 4 percent.

Mexican Economy Expands 0.28% QoQ in Q1


Joana Taborda | joana.taborda@tradingeconomics.com
5/23/2014 3:50:19 PM