Mexico GDP Growth At 1-1/2-Year High In Q1

The Mexican economy expanded a non-seasonally adjusted 2.8 percent year-on-year in the first quarter of 2017, higher than 2.7 percent in the preliminary reading and above a downwardly revised 2.3 percent increase in the previous period. It is the biggest growth rate in six quarters as services grew further and industrial output rebounded, final figures showed.

The services sector advanced 3.7 percent, faster than 3.4 percent in the fourth quarter and in line with preliminary figures. Industrial production went up 0.5 percent, above 0.2 percent earlier estimated and following a 0.1 percent drop in the previous period. Agriculture jumped 6.6 percent, above 5.3 percent in the fourth quarter but lower than 6.9 percent in the preliminary reading.

On a quarterly basis, the economy grew a seasonally adjusted 0.7 percent, the same as in Q4 and better than initial estimates of 0.6 percent. 

Joana Taborda |
5/22/2017 2:21:41 PM