Mexico’s GDP advanced 1% in the third quarter and links 18 consecutive months of progress

The Gross Domestic Product (GDP) of Mexico advanced 1% in the third quarter of 2022 and completed a third quarterly progressive increase, leaving behind the record of 0.9% observed during the second quarter of the year, revealed the National Institute of Statistics and Geography (inegi), with seasonally adjusted figures.

Inegi’s quarterly timely estimate exceeded the average market estimate, collected by Reuters, which was 0.9 percent.

When comparing this performance with that of the third quarter of 2021, that is, in its annual performance, an economy growth of 4.3% was achieved, with which they spin six consecutive quarters of progressor annually from the second quarter of 2021.

If the timely GDP data is confirmed in the final figure that will be released on November 25, the Mexican economy will register its highest point of performance in this year 2022.

In this 18-month period, the economy recorded its growth peak in the second quarter of 2021, when it rebounded at 19.9% ​​per year; then this performance was adjusted for the third quarter of 2021 at a rate of 4.5 percent.

For the last quarter of 2021, the economy registered the lowest performance of the 18-month period, of 1.1% per year; which increased again for the first quarter of this year to 1.8% and saw a slight upward adjustment in the second quarter, which led the economy to a GDP of 1.9 percent.

In the detail of the information disclosed by the Institute, it is observed that the secondary activities, corresponding to the industry, registered a new advance of 0.9% in the July-August period, and with this accumulated a progress of 4 percent for one year.

While the tertiary activities, where the services sector is incorporated, registered a growth of 1.2% in the quarter, which in the annual comparison, shows a solid null annual 4.3%, being the most dynamic of the quarter reported.

Meanwhile, the primary sector corresponding to agriculture and livestock advanced 1.8% in the quarter, which allows a solid advance of 3.5% per year.