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.

Mexico GDP Growth Rate
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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



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 [+]


Mexico GDP Growth Rate

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




Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18


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