economy and politics

Mexico’s GDP grows 1% in the first quarter of 2023

Mexico's GDP grows 1% in the first quarter of 2023

With this result, the Mexican economy accumulated six consecutive quarters of growth. The estimate released today by the Inegi is slightly lower than the timely data released in April, where an expansion of 1.1% quarterly was estimated.

In the first three months of the year, the GDP of tertiary activities advanced 1.5%, that of secondary activities grew 0.6%, and that of the former decreased 2.8%, with respect to the previous quarter.

At an annual rate, Mexico’s Gross Domestic Product increased 3.7% in real terms. Tertiary activities grew 4.2%; the primary ones, 2.9% and the secondary ones, 2.4%.

This morning, the Inegi also released the results of the Global Economic Activity Indicator for March 2023, with a fall of 0.3% at the monthly rate and growth of 2.7% at the annual rate.

In March, primary activities fell 1.6% at a monthly rate, secondary activities decreased 0.9% and tertiary activities 0.1%.

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