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Mexico Posts Solid Second-Quarter Growth on Economy Opening

  • GDP expanded 1.5% q/q, versus 1.6% median estimate of analysts
  • Economy seen rebounding 6.1% in 2021 after 8.2% plunge in 2020
Updated on

Mexico’s economy grew solidly in the second quarter, as domestic demand and the country’s reopening helped spur the services sector while U.S. growth drove manufacturing. 

Gross domestic product rose 1.5% from the previous three-month period, showing the economy accelerated from the beginning of the year despite missing a 1.6% growth estimate by analysts surveyed by Bloomberg. From a year ago, GDP rose 19.6%, according to final data from the national statistics institute published Wednesday.