Mexican Economy Contracts 0.74% QoQ in Q2

In the second quarter of 2013, Mexico’s GDP shrank for the first time in four years by 0.74 percent quarter-on-quarter, from 0.03 percent growth in the previous three months, the national statistics agency reported on August 20th.

The primary sector which includes agriculture, cattle ranching, forestry, fishing and hunting, increased 1.22 percent quarter-on-quarter.

The tertiary sector which aggregates mostly commerce and services dropped by 0.42 percent qoq.

The secondary sector which includes manufacturing, mining, construction and electricity, water and gas supply production shrank 1.1 percent over the previous quarter.

On a year over year basis, the GDP expanded 1.5 percent.

Mexican Economy Contracts 0.74% QoQ in Q2

Joana Taborda |
8/20/2013 3:06:20 PM