During the last quarter of 2016, the Mexican economy grew 2.0 percent compared to the same quarter last year, these figures are in line with the the Gross Domestic Product (GDP) estimates in source data.
The National Institute of Statistics and Geography (INEGI) announced that the primary sector grew 5.3 percent and tertiary sector grew 3.4 percent, while secondary sector shrunk 0.8 percent during the last quarter of the year according to source data.
The GDP grew 2.3 percent during the first nine months of 2016 compared to the same period in 2015, which resulted from a 3.4 percent growth in the tertiary sector and 2.4 percent in the primary. There were no variations for the secondary sector.
Current estimates by the Secretariat of the Treasury and Public Credit (SHCP) for the Mexican economy this year range from 2.0 to 2.6 percent increase, while Mexico’s central bank (Banxico) forecasts a growth ranging from 1.7 to 2.5 percent.
On Wednesday, SHCP Undersecretary Vanessa Rubio Márquez will give a conference on the recent economic evolution and GDP forecasts along with Banxico head Agustín Carstens, who will disclose the expectations of the institution.