Mexico GDP Growth Rate

The Mexican gross domestic product advanced 0.8 percent on quarter in the three months to September of 2018, less than a preliminary estimate of 0.9 percent and compared to a downwardly revised 0.1 percent contraction in the second quarter. Services and industry grew faster but the agricultural sector rebounded less than initially estimated. GDP Growth Rate in Mexico averaged 0.61 percent from 1993 until 2018, reaching an all time high of 3.20 percent in the third quarter of 2009 and a record low of -5.70 percent in the first quarter of 1995.

GDP Growth Rate in Mexico is expected to be 0.70 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 0.60 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 0.90 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-07-31	01:00 PM	GDP Growth Rate QoQ Prel	-0.1%	1.1%		1.3%
2018-08-24	01:00 PM	GDP Growth Rate QoQ Final	-0.2%	1.0%	0%	-0.1%
2018-10-30	02:00 PM	GDP Growth Rate QoQ Prel	0.9%	-0.2%		0.4%
2018-11-23	02:00 PM	GDP Growth Rate QoQ Final	0.8%	-0.1%	0.9%	0.9%
2019-01-30	02:00 PM	GDP Growth Rate QoQ Prel				0.70%
2019-02-25	02:00 PM	GDP Growth Rate QoQ Final				0.70%
2019-04-30	01:00 PM	GDP Growth Rate QoQ Prel				0.40%

Mexico GDP Growth Revised Down to 0.8% QoQ in Q3

The Mexican gross domestic product advanced 0.8 percent on quarter in the three months to September of 2018, less than a preliminary estimate of 0.9 percent and compared to a downwardly revised 0.1 percent contraction in the second quarter. Services and industry grew faster but the agricultural sector rebounded less than initially estimated.

The services sector advanced 0.8 percent, matching the preliminary figure and more than an upwardly revised 0.3 percent rise in the second quarter. Main positive contributions to growth came from: finance and insurance (4.3 percent vs 2.5 percent in Q2); wholesale trade (1.8 percent vs 1.6 percent); retail trade (0.6 percent vs -2.1 percent); transport & storage (0.9 percent vs 0.5 percent); professional, scientific and technical services (0.4 percent vs 0.3 percent); cultural & sports activities (2.2 percent vs 1.0 percent) and food & accomodation services (0.6 percent vs 0.5 percent). On the other hand, output rose at a softer pace in: information & communication (0.4 percent vs 4.8 percent); real estate activities (0.3 percent vs 0.5 percent); business services (1.5 percent vs 2.4 percent) and health & social assistance (0.7 percent vs 1.1 percent). In addition, declines were seen for corporate services (-1.8 percent vs 5.3 percent) and education (-0.4 percent vs -0.6 percent).

Industrial activity grew 0.5 percent, as initially estimates showed, recovering from a 0.3 percent contraction in the previous period. Output increased faster in manufacturing (0.9 percent vs 0.4 percent in Q2) and utilities (1.5 percent vs 0.7 percent) but declined in mining (-1.6 percent vs -0.2 percent) and contruction (-0.1 percent vs -1.8 percent).

The agricultural sector expanded 0.4 percent, below a preliminary reading of 0.8 percent, but reversing from a downwardly revised 1.0 percent decline in the prior month.

Year-on-year, the Mexican economy grew 2.5 percent, slower than a preliminary figure of 2.6 percent and a 2.6 percent rise in the previous quarter.

INEGI | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/23/2018 3:49:20 PM

Recent Releases

Mexico Economy Returns to Growth in Q3
The Mexican economy advanced 0.9 percent on quarter in the three months to September of 2018, reversing from a 0.2 percent contraction in the previous period, a preliminary estimate showed. Both the industrial sector and the primary sector recovered and services grew faster.
Published on 2018-10-30

Mexico GDP Contracts More than Expected in Q2
The Mexican gross domestic product declined 0.2 percent on quarter in the three months to June of 2018, up from a preliminary estimate of a 0.1 percent contraction and compared to a downwardly revised 1.0 percent growth in the first quarter. It was the worst contraction since the second quarter of 2013 (-0.7 percent), as both the primary sector and industry fell and services slowed further.
Published on 2018-08-24

Mexican GDP Contracts 0.1% QoQ in Q2
The Mexican economy shrank 0.1 percent on quarter in the three months to June of 2018, reversing from a 1.1 percent growth in the previous period. It is the first contraction since the last quarter of 2015 as both the primary sector and industry declined, preliminary estimates showed.
Published on 2018-07-31

Mexico GDP Growth Revised Up to 1.1% QoQ in Q1
The Mexican gross domestic product advanced 1.1 percent on quarter in the first three months of 2018, compared to an upwardly revised first estimate of 0.9 percent and market forecasts of a 0.95 percent rise. It was the strongest expansion since the third quarter of 2016, mainly boosted by gains in services and industry while the agricultural sector grew less.
Published on 2018-05-23

Mexico GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.80	-0.10	3.20	-5.70	percent	[+]
GDP Annual Growth Rate	2.50	2.60	9.00	-9.10	percent	[+]
GDP	1149.92	1076.91	1314.39	13.04	USD Billion	[+]
GDP Constant Prices	18610326.00	18457137.00	18610326.00	9736434.00	MXN Million	[+]
Gross Fixed Capital Formation	3808150.84	3833748.37	3836735.65	1475244.17	MXN Million	[+]
GDP per capita	9946.16	9871.67	9946.16	3047.11	USD	[+]
GDP per capita PPP	17336.47	17206.63	17336.47	10456.94	USD	[+]
GDP From Agriculture	491385.00	609144.99	690734.08	326544.91	MXN Million	[+]
GDP From Construction	1288945.00	1286690.00	1349021.00	616361.00	MXN Million	[+]
GDP From Manufacturing	2965041.00	2962075.00	2965041.00	1579762.00	MXN Million	[+]
GDP From Mining	896682.00	911669.00	1339290.00	896682.00	MXN Million	[+]
GDP From Public Administration	686638.84	747616.63	747616.63	552862.50	MXN Million	[+]
GDP From Services	11628126.28	11763649.62	11825042.55	5606905.89	MXN Million	[+]
GDP From Transport	1208225.00	1218568.00	1218568.00	557632.00	MXN Million	[+]
GDP From Utilities	294583.00	276877.00	294583.00	93738.00	MXN Million	[+]

In Mexico, services account for 62 percent of total GDP. The biggest segments within services are: wholesale and retail trade (16 percent); real estate (10 percent); transport, warehousing and communications (7 percent) and financial services and insurance (6 percent). Industry constitutes 18 percent of output and the largest segments within this sector are: automobile industry (4 percent of total GDP) and food industry (3.8 percent). The remaining share is divided by: construction, water, gas and electricity distribution (8 percent), mining (5 percent), government (4 percent ) and agriculture, forestry, fishing and hunting (3 percent). This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.80	-0.10	3.20	-5.70	1993 - 2018	percent	Quarterly	SA

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Country	Last		Previous	Range
United States	3.50	Sep/18	4.2	16.7 : -10	%
Indonesia	3.09	Sep/18	4.21	4.21 : -3.57	%
Singapore	3.00	Sep/18	1.2	36.6 : -13.5	%
South Africa	2.20	Sep/18	-0.4	7.6 : -6.1	%
India	1.90	Jun/18	2	5.4 : -1.7	%
China	1.60	Sep/18	1.7	2.4 : 1.4	%
Russia	0.90	Jun/18	0.4	4.1 : -5.4	%
Brazil	0.80	Sep/18	0.2	3.9 : -3.9	%
Mexico	0.80	Sep/18	-0.1	3.2 : -5.7	%
South Korea	0.60	Sep/18	0.6	7.8 : -7	%
Spain	0.60	Sep/18	0.6	1.6 : -1.6	%
United Kingdom	0.60	Sep/18	0.4	5 : -2.7	%
Canada	0.50	Sep/18	0.7	3.1 : -2.3	%
France	0.40	Sep/18	0.2	8 : -5.3	%
Australia	0.30	Sep/18	0.9	4.4 : -2	%
Euro Area	0.20	Sep/18	0.4	1.3 : -3	%
Netherlands	0.20	Sep/18	0.7	1.7 : -3.6	%
Saudi Arabia	-0.05	Mar/18	0.05	8.5 : -2.1	%
Italy	-0.10	Sep/18	0.2	6 : -2.8	%
Germany	-0.20	Sep/18	0.5	4 : -4.5	%
Switzerland	-0.20	Sep/18	0.7	2.4 : -1.9	%
Japan	-0.60	Sep/18	0.7	3.2 : -4.8	%
Turkey	-1.10	Sep/18	0.6	5.6 : -5.2	%
Argentina	-4.00	Jun/18	0.7	5 : -5.7	%