💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Mexican economic growth hits five-month high in January

Published 03/29/2016, 10:31 AM
Updated 03/29/2016, 10:40 AM
© Reuters. A picture illustration shows Mexican pesos and U.S. dollars banknotes in Mexico City

MEXICO CITY (Reuters) - Mexico's economy grew by 0.6 percent in January from December in seasonally adjusted terms, the fastest pace in five months, figures from the national statistics agency showed on Tuesday.

Growth was driven by a pickup in industrial activity, which advanced by 1.2 percent from the previous month, while the service sector expanded by 0.2 percent, the figures showed.

Compared with the same month a year earlier, Latin America's second biggest economy grew by 2.3 percent, in unadjusted terms. That was a tenth of a point faster than the same month in 2015.

The statistics office also revised upward December's data to show the economy grew by 0.1 percent compared with the previous month. It first reported that the economy was flat that month.

Mexico exports mostly manufactured goods to the United States, its top trading partner. Last year, weakness in U.S. industrial output weighed on Mexican growth, which slowed more than expected in the fourth quarter.

© Reuters. A picture illustration shows Mexican pesos and U.S. dollars banknotes in Mexico City

In recent months, private consumption has helped support growth in the Mexican economy.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.