The Mexican gross domestic product advanced 0.4 percent on quarter in the three months to March of 2021, slowing from a 3.3 percent growth in the previous period, although slightly above market expectations of a 0.1 percent growth, a preliminary estimate showed. It was the slowest pace of growth since a record slump in the second quarter of 2020, amid the worsening pandemic crisis and after unusually cold weather in the US, especially Texas, led to gas shortages in Mexico that forced temporary shutdowns of factories. Industrial activity stalled, following a 3.9 percent growth in the fourth quarter of 2020; and the services sector rose only 0.7 percent, after advancing 3.2 percent in the previous period. In addition, the primary sector contracted 1.3 percent, following a 2.4 percent decline in Q4. Year-on-year, the country's economy shrank 3.8 percent, following a 4.3 percent slump in the previous period and compared with market expectations of a 3.5 percent decline. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Growth Rate in Mexico averaged 0.53 percent from 1993 until 2021, reaching an all time high of 12.40 percent in the third quarter of 2020 and a record low of -17 percent in the second quarter of 2020. This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
GDP Growth Rate in Mexico is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Mexico to stand at 0.70 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.10 percent in 2022 and 0.80 percent in 2023, according to our econometric models.