Mexico Q2 GDP Growth Improves Unexpectedly

Mexico’s economic growth improved for the second straight quarter in the three months ended June, preliminary data from the National Institute of Statistics and Geography showed on Friday.

Gross domestic product advanced an unadjusted 2.1 percent year-over-year in the June quarter, faster than the 1.8 percent rise in the March quarter.

Meanwhile, economists had forecast the growth to ease to 1.4 percent.

Regarding large economic activities, the secondary sector expanded the most, by 3.3 percent annually in the second quarter. This was followed by a 1.5 percent rise in the primary sector.

Tertiary activity also registered an annual increase of 1.3 percent.

On a seasonally adjusted basis, GDP expanded at a steady pace of 1.0 percent sequentially in the second quarter versus an expected increase of 0.8 percent. GDP increased by 1.9 percent over the previous year.

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