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The
National Statistical Institute (INEGI, Instituto Nacional de
Estadística Geografía e Informática) reports:
In the
second quarter of the current year, gross domestic product (GDP) expanded
2.1% in real terms compared with the same period last year.
The
second quarter reading was influenced that Easter holidays fell in the
second quarter last year but in the first quarter this year. Consequently,
the second quarter 2002 counted more working days than the same period
last year (77 days in 2002 vs. 73 days in 2001).
According to seasonally adjusted data, Mexican GDP increased by 1.16% over
the first quarter this year.
The
agricultural sector grew at an annual rate of 1.1%. The expansion
was the result of higher volume output of coffee, cherries, onions, beans,
oranges, rice, apples, lemons, corn and wheat.
The industrial sector increased 2.5% over the same period last year. The
manufacturing industry grew 2.1%, construction expanded 5.0% and
electricity, gas and water added 4.4%. Only mining slumped,
contracting 0.3% compared to the second quarter last year.
The services sector grew 2.2%. Wholesale and retail activities,
restaurants and hotels increased 0.4% over the second quarter last year.
Transport, storage and communications added 2.9%; financial services and
real estate augmented 4.7% and governmental services increased by 1.8%.
More detailed information
available at the Instituto Nacional de Estadística Geografía e
Informática (INEGI).
Forecasts: This indicator is covered in the
LatinFocus Consensus Forecast. For 5-year projections, including quarterly forecasts for
the next two years, please click here
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