The Mexican economy grew 12.1% on quarter in the three months to September 2020, slightly above a preliminary reading of a 12% expansion and recovering from a downwardly revised record 17 percent contraction in the previous period. It was the sharpest growth rate since series began, amid the ongoing easing of coronavirus restrictions. Industrial activity expanded 21.7%, rebounding from a 23.3% plunge in the prior quarter, namely manufacturing (31.5% vs -26%), construction (21.8% vs -31.1%) and mining (2.4% vs -9.2%). Additionally, the services sector advanced 8.8%, recovering from a 15.1% slump, of which retail trade (29.8% vs -27.8%), wholesale trade (15.5% vs -17.7%), culture, recreation and sports services (61.5% vs -74.2%), hotels & restaurants (58.5% vs -67.5%) and transport & storage (22.4% vs -37%). Also, the primary sector grew 8%, faster than a 0.5% expansion in Q2. Year-on-year, the country’s gross domestic product contracted 8.6%, following a record 18.7% slump in the Q2. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Growth Rate in Mexico averaged 0.50 percent from 1993 until 2020, reaching an all time high of 12.10 percent in the third quarter of 2020 and a record low of -17 percent in the second quarter of 2020. This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Mexico is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Mexico to stand at 1.10 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.80 percent in 2022, according to our econometric models.