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Mexico Posts Rapid Quarterly Growth
Mexico Posts Rapid Quarterly Growth

Mexico Posts Rapid Quarterly Growth

Mexico Posts Rapid Quarterly Growth

Mexico’s economy posted its fastest growth in more than two years, and the government stuck to its outlook, insisting there was no tangible threat yet from US president-elect Donald Trump, who has threatened to tear up a free trade deal. Gross domestic product grew by 1% in the third quarter compared with the prior quarter, according to seasonally adjusted data from Mexico’s statistics agency, in line with estimates in a Reuters poll. It was the fastest quarterly expansion since the second quarter of 2014. Deputy Finance Minister Vanessa Rubio said the government still expected the economy to grow between 2% and 2.6% in 2016, pointing to “solid” consumption despite weak factory production and lower oil output. Mexico also held to its 2017 GDP forecasts, Rubio said, even after private sector economists cut their outlook for next year on expectations that Trump could enact policies that hurt Mexican exports. The United States is Mexico’s top trade partner. The GDP data showed the industrial sector grew 0.1% in the April-June period.

 

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