Mexico’s economy expanded at a slightly slower pace than the preliminary estimate in the second quarter, even as the country benefited from the strength of its trade with the US and its own robust labor market.
Gross domestic product expanded 0.8% from the previous three months, below the 1% median estimate by economists in a Bloomberg survey and the 0.9% preliminary reading reported last month. From the same period a year ago, GDP grew 3.6%, less than the preliminary 3.7% print, according to final data released by Mexico’s national statistics institute Tuesday.
High employment and wage growth have put more money in circulation. Latin America’s second-largest economy has also been helped by US demand for its exports, with the country posting a trade surplus in June amid a fall in the value of oil imports. The recovery of the services sector from its pandemic slump has also been a boon.
Analysts in a Citi survey published last week said that they expected the economy to grow 2.9% this year, up from a forecast of 2% in early June. Economists in a Bloomberg survey in August see Mexico’s growth at the end of the year at 3%. President Andres Manuel Lopez Obrador has sought to finish projects including a train through Mexico’s southeast and a major refinery before the end of his term in 2024, explaining part of the boost in construction in recent months. The unofficial presidential candidate for his party is expected to be announced Sept. 6.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Opinion: Economic growth is a false model for social successAt present, the human race consumes 125 percent of the Earth’s annual production. Put another way, this is like spending a $125,000 each year when you are only earning $100,000.
Lire la suite »
Conference Board: Moncton's cooling economic growth sustained in part by influx of immigrantsAlthough the pace of growth is slowing, immigration, construction, manufacturing and other sectors are helping to boost GDP as the province’s largest city ...
Lire la suite »
China’s Worsening Economic Slowdown Is Rippling Across the GlobeChina’s economy was meant to drive a third of global economic growth this year, so its dramatic slowdown in recent months is sounding alarm bells across the world.
Lire la suite »
Opinion: Canada’s underemployed economic immigrants: How to stop wasting talentCanada doesn’t fully utilize immigrants’ skills, limiting efforts to address labour-market needs and imposing a loss on the economy
Lire la suite »
Small Edmonton businesses feel economic pressure as construction obstructs accessMajor ongoing construction along Gateway Boulevard has several small businesses south of Whyte Avenue suffering from lack of customer access.
Lire la suite »
Australian Treasurer Warns of Economic Risk From China SlowdownAustralian Treasurer Jim Chalmers said the department he oversees is closely watching slowing growth in China, which he described as the greatest risk to Australia’s economy alongside elevated interest rates.
Lire la suite »