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Mexico’s Economy Beats Growth Expectations Ahead of Likely Slowdown

  • Preliminary quarter-on-quarter growth at 0.4%, est. 0.3%
  • Economy grew 3.5% from a year earlier, helped by consumption
Workers sort tomatoes at the Finka Ahuehuetes SAS greenhouse and packing facility in San Juan del Rio, Queretaro state, Mexico, on Wednesday, Sept. 28, 2022.

Workers sort tomatoes at the Finka Ahuehuetes SAS greenhouse and packing facility in San Juan del Rio, Queretaro state, Mexico, on Wednesday, Sept. 28, 2022.

Photographer: Jeoffrey Guillemard/Bloomberg
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Mexico’s economy grew slightly more than analysts expected at the end of 2022 ahead of a likely slowdown this year as a higher interest rate tests the strength of resilient demand.

Gross domestic product expanded 0.4% in the fourth quarter from the previous three months, compared with the 0.3% median estimate of analysts surveyed by Bloomberg. From the same period a year ago, the economy grew 3.5%, according to preliminary data released by Mexico’s national statistics institute on Tuesday. Overall, the economy expanded 3% in 2022.