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Mexico’s Economy Surprises With Fastest Expansion in Over a Year

  • Economic activity expands 5.7% annually, above 3.1% estimate
  • Services-driven growth suggests economic resilience in Mexico
Workers package bottles of Tajin Clasico seasoning at the company's production plant in Tala, Jalisco state, Mexico, on Wednesday, April 6, 2022.

Workers package bottles of Tajin Clasico seasoning at the company's production plant in Tala, Jalisco state, Mexico, on Wednesday, April 6, 2022.

Photographer: Cesar Rodriguez/Bloomberg
Updated on

Mexico’s economy expanded in August at the fastest pace in more than a year driven by services, suggesting domestic activity is more resilient than expected.

Economic activity expanded 5.7% from the previous year, the most since July 2021 and above all forecasts from economists in a Bloomberg survey whose median estimate was for a 3.1% increase. On a monthly basis, activity grew almost 1%, also above expectations, the country’s statistics institute said on Tuesday.