Mexico Q4 GDP Growth Eases More Than Estimated

(RTTNews) - Mexico's economic growth eased slightly more than initially estimated in the fourth quarter, the latest data from the National Institute of Statistics and Geography, or INEGI, showed on Friday.

Gross domestic product advanced an unadjusted 0.5 percent year-over-year in the December quarter versus a revised 1.7 percent growth in the September quarter. In the flash estimate, the rate of expansion was 0.6 percent.

The slowdown in growth was largely due to a 4.0 percent renewed contraction in the primary sector. The secondary activity also shrank 2.0 percent, while the tertiary sector growth eased slightly to 2.1 percent from 2.2 percent.

On a seasonally adjusted basis, GDP dropped 0.6 percent in the fourth quarter, as estimated, after rising 0.9 percent in the third quarter.

During the year 2024, the Mexican economy grew 1.2 percent compared to 2023, revised down from 1.3 percent.