The Mexican economy advanced 3.3% on quarter in the three months to December of 2020, slightly above a preliminary reading of a 3.1% expansion and following an upwardly revised 12.4% growth. Industrial activity increased 3.9%, slowing from a 22.3% expansion in the prior quarter, namely manufacturing (3.9% vs 31.9% in Q3); construction (5.3% vs 22.7%); utilities (0.3% vs 5.2%) and mining (2% vs 2.8%). Also, the services sector advanced 3.2%, slower than a 9% growth in Q3, of which retail trade (5.2% vs 30.6%); wholesale trade (6.1% vs 15.5%); transport & storage (10.3% vs 23.4%) and accommodation & services (24.5% vs 59.7%). In addition, the primary sector shrank 2.4%, after a 7.6% expansion in Q3. Year-on-year, the country's economy shrank 4.3%, below a preliminary estimate of 4.5% contraction and following an 8.6% slump in the previous period. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Growth Rate in Mexico averaged 0.53 percent from 1993 until 2020, reaching an all time high of 12.10 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 March of 2021.
GDP Growth Rate in Mexico is expected to be 1.50 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 1.10 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.