Mexico Economic Growth Slows To 1.5%

(RTTNews) - The Mexican economy expanded at a slower pace in the third quarter, preliminary data from the National Institute of Statistics and Geography, or INEGI, showed on Wednesday.

Gross domestic product advanced an unadjusted 1.5 percent year-over-year in the September quarter versus 2.1 percent growth in the June quarter. The expected growth rate was 1.2 percent.

Regarding large economic activities, the primary sector expanded the most, by 4.1 percent annually in the third quarter, recovering from the 2.8 percent fall in the previous quarter.

Meanwhile, the annual growth in the tertiary sector eased to 2.0 percent from 2.6 percent. Similarly, the primary sector growth moderated from 1.8 percent to 0.6 percent.

On a seasonally adjusted basis, GDP advanced 1.0 percent in the third quarter, while economists had expected an increase of 0.8 percent.