Mexico GDP Growth Accelerates To 2.2%, Exceeds Forecast

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

Gross domestic product advanced an unadjusted 2.2 percent year-over-year in the June quarter, following a 1.6 percent growth in the March quarter. The expected growth rate was 2.0 percent.

Regarding large economic activities, the tertiary sector expanded the most, by 2.7 percent annually in the June quarter, faster than the 2.1 percent gain in the previous quarter.

Similarly, the annual growth in the secondary sector improved to 1.9 percent from 2.2 percent. Meanwhile, the primary sector contracted 2.7 percent versus a 0.6 percent rebound in the previous three-month period.

On a seasonally adjusted basis, GDP advanced 0.2 percent in the second quarter, while economists had expected an increase of 0.4 percent.