Mexican GDP Growth Eases To 0.6% In Q4

(RTTNews) - The Mexican economy expanded at a slower pace in the fourth quarter, preliminary data from the National Institute of Statistics and Geography, or INEGI, showed on Thursday.

Gross domestic product advanced an unadjusted 0.6 percent year-over-year in the December quarter versus 1.6 percent growth in the September quarter. The expected growth rate was 1.2 percent.

The slowdown in growth was largely due to a 4.6 percent renewed contraction in the primary sector. The secondary activity also shrank 1.7 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 versus an expected fall of 0.2 percent.

During the year 2024, the Mexican economy grew 1.3 percent compared to 2023, the agency said.