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The
National Statistical Institute (INEGI, Instituto Nacional de
Estadística Geografía e Informática) reports:
In the
third quarter of the current year, gross domestic product (GDP) expanded
1.8% in real terms compared with the same period last year.
According to seasonally adjusted data, Mexican GDP increased by 0.99% over
the second quarter this year.
The
agricultural sector grew at an annual rate of 1.6%, better than the 1.1%
annual growth rate observed in the second quarter. The expansion
was the result of higher volume output of cacao, beans, corn, bananas,
rice, avocado, lemon and apples.
The industrial sector increased 0.6% over the same period last year, after
2.5% annual growth registered in the second quarter. The
manufacturing industry grew 0.2% (Q2: +2.1% year-on-year), construction expanded
1.6% (Q2: +5.0% yoy) and
electricity, gas and water added 4.1% (Q2: +4.4% yoy). Only mining slumped,
contracting 0.6% compared to the second quarter last year (Q2: -0.3% yoy).
GDP by
Sector, Q3 2002
Note: Change over same quarter
last year.
Source: Instituto Nacional de Estadística Geografía e Informática (INEGI)
and LatinFocus calculations.
The services sector grew
2.6% and thus improved over the second quarter, when it expanded at an
annual rate of 2.2%. Wholesale and retail activities,
restaurants and hotels increased 1.9% over the second quarter last year
(Q2: +0.4% yoy).
Transport, storage and communications added 3.5% (Q2: +2.9% yoy); financial services and
real estate augmented 3.9% (Q2: +4.7% yoy) and governmental services increased by
1.6% (Q2: 1.8% yoy).
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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