The National Institute of Statistics and Geography (Inegi) of Mexico has revised upward by two tenths the growth figure for the Gross Domestic Product (GDP) of Mexico in the third quarter compared to the second quarter, up to 1.1%, compared to the 0.9% disclosed a month ago in its interim report.

However, compared to the third quarter of the previous year, Inegi has maintained the 3.3% growth calculated previously, as confirmed this Friday. By components, the upward correction compared to the second quarter comes from the tertiary sector, which grew by 0.9% in the third quarter, which Inegi had previously calculated at 0.6%.

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Meanwhile, the increase was less than expected among primary activities (six tenths less, standing at 2.6%) and in the secondary sector (fall of one tenth, to 1.3%).

Meanwhile, compared to the same quarter of the previous year, activity in the primary sector grew by 5.5% (two tenths more), in the secondary sector by 4.4% (down one tenth) and in the tertiary sector by 2.6% year-on-year ( one tenth above what was expected).

Recently, several international organizations have revised upwards their forecasts for the Mexican economy. This is the case of the International Monetary Fund, which has corrected its estimates by six tenths, to 3.2%.

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ECLAC has also opted for a notable increase, of 1.4 points, to 2.9%. For its part, the Government of Mexico is even more positive, and expects to reach GDP growth of 3.5%.

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Original note