The Mexican economy expanded by 1% quarter-on-quarter in the three months ending March of 2023, below preliminary estimates of a 1.1% advance and in line with market expectations. It was the sharpest expansion since the second quarter of 2022, underscoring the resilience of the Mexican economy from Banxico's aggressive rate-hike cycle. Output expanded the most for services (1.5% vs 0.1% in Q4) as inflation slowed and consumer and business activity recovered while manufacturing production rose at a solid pace (0.6% vs 0.5%). On the other hand, the GDP contracted for primary activities (-2.8% vs 2%). On a yearly basis, the Mexican GDP expanded by 3.7% in the first quarter, below the 3.9% growth expected by the market and projected by preliminary data. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Growth Rate in Mexico averaged 0.55 percent from 1993 until 2023, reaching an all time high of 13.10 percent in the third quarter of 2020 and a record low of -17.80 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 June of 2023.
GDP Growth Rate in Mexico is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.00 percent in 2024, according to our econometric models.