Mexico’s Economic Growth Tops All Forecasts After Revision
- Third quarter expansion revised to 1.1% versus previous period
- US demand, government spending and remittances boost growth
Leather goods for sale in Moctezuma, Mexico.
Photographer: Norte Photo/Getty Images
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Mexico’s economy expanded more in the third quarter than preliminary data suggested, lifted by surging exports to the US and strong consumer spending.
Official data released Friday showed gross domestic product expanded 1.1% in the July-September period from the previous quarter, above the 0.9% initial reading reported last month and also all estimates in a Bloomberg survey of economists that had a 0.8% median forecast. From the same period a year prior, GDP grew 3.3%, above the 3.2% projection.