Mexico Economic Growth Tops Forecasts on Services and Exports
- Economy grew 0.9% q/q in second quarter, above est. of 0.8%
- Preliminary data show economy benefiting from strong exports
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Mexico’s economy grew more than expected in the second quarter as private consumption remains robust and the country benefits from strong exports to the US, its largest trading partner.
Gross domestic product rose 0.9% from the previous three months, above the 0.8% median estimate of analysts surveyed by Bloomberg. From the same period a year ago, GDP grew 3.7%, more than economists’ 3.3% forecast, according to preliminary data released by Mexico’s national statistics institute Monday.