Mexico GDP Growth Improves More Than Forecast

(RTTNews) - Mexico's economy expanded at a faster-than-expected pace in the first quarter, preliminary data from the National Institute of Statistics and Geography showed on Wednesday.

After seasonal adjustments, gross domestic product advanced 1.8 percent year-over-year in the March quarter, faster than previous quarter's revised 1.1 growth. That was just above economists' forecast for a rise of 1.7 percent.

By large economic activities, output in the secondary sector grew the most, by 3.0 percent annually in the first quarter. Primary activities registered an increase of 2.1 percent, while the output in the tertiary sector expanded the least, by 0.9 percent.

On quarterly basis, gross domestic product rose 1.0 percent in the first quarter following a 0.2 percent increase in the previous three months. The economy expanded for a second straight month.