Economic news

Mexico’s economy grows slightly above forecasts in third quarter

2023.11.24 08:10


© Reuters. FILE PHOTO: A view of Mexico city’s skyline during a sunset as cars are pictured along Reforma Avenue in Mexico City, Mexico in this picture taken through glass in a building, May 24, 2023. REUTERS/Henry Romero/File Photo

(Reuters) – Mexico’s economy grew 1.1% in the third quarter from the previous three-month period, national statistics agency INEGI said on Friday, slightly above preliminary estimates disclosed by INEGI a month ago and a Refinitiv poll at 0.9%.

The Mexican economy grew 3.3% in the quarter on an annual basis, in line with expectations, according to a Reuters poll.

A breakdown of the GDP figures showed that all sectors grew on a quarter-on-quarter basis. Primary activities such as farming, fishing and mining saw the strongest gain at 2.6%. The secondary sector, which covers manufacturing, grew 1.3% and the tertiary or services sector grew 0.9%.

Mexico’s central bank kept interest rates steady at 11.25% this month, where they have sat since March after a nearly two-year tightening cycle.

Central bank governor Victoria Rodriguez has ruled out cuts to the key rate for the rest of 2023, but opened the door for the board to begin discussing possible cuts ahead.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 75,947.35 1.49%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,911.79 3.77%
tether
Tether (USDT) $ 1.00 0.03%
solana
Solana (SOL) $ 198.90 6.18%
bnb
BNB (BNB) $ 598.27 0.52%
usd-coin
USDC (USDC) $ 1.00 0.03%
xrp
XRP (XRP) $ 0.550732 0.98%
dogecoin
Dogecoin (DOGE) $ 0.200642 5.27%
staked-ether
Lido Staked Ether (STETH) $ 2,914.96 3.89%
cardano
Cardano (ADA) $ 0.434251 17.72%
tron
TRON (TRX) $ 0.160819 0.54%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,449.04 2.57%
the-open-network
Toncoin (TON) $ 4.89 1.31%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 3.88%
avalanche-2
Avalanche (AVAX) $ 27.45 1.73%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,863.33 1.53%
weth
WETH (WETH) $ 2,910.16 3.80%
chainlink
Chainlink (LINK) $ 12.77 3.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 379.77 1.57%
sui
Sui (SUI) $ 2.30 2.97%
polkadot
Polkadot (DOT) $ 4.27 4.36%
leo-token
LEO Token (LEO) $ 6.34 3.28%
usds
USDS (USDS) $ 1.00 0.08%
litecoin
Litecoin (LTC) $ 71.20 0.92%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,062.00 3.75%
uniswap
Uniswap (UNI) $ 8.81 1.26%
near
NEAR Protocol (NEAR) $ 4.20 1.09%
aptos
Aptos (APT) $ 9.65 1.31%
pepe
Pepe (PEPE) $ 0.000011 6.88%
bittensor
Bittensor (TAO) $ 504.57 2.52%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 2.82%
internet-computer
Internet Computer (ICP) $ 7.71 1.90%
dai
Dai (DAI) $ 1.00 0.05%
stellar
Stellar (XLM) $ 0.101649 4.10%
monero
Monero (XMR) $ 163.88 0.66%
ethereum-classic
Ethereum Classic (ETC) $ 20.23 0.82%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.16%
crypto-com-chain
Cronos (CRO) $ 0.103078 19.97%
kaspa
Kaspa (KAS) $ 0.113475 4.32%
whitebit
WhiteBIT Coin (WBT) $ 19.62 1.83%
aave
Aave (AAVE) $ 180.07 0.90%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.344415 1.85%
blockstack
Stacks (STX) $ 1.65 0.77%
okb
OKB (OKB) $ 40.29 1.33%
first-digital-usd
First Digital USD (FDUSD) $ 0.998771 0.30%
dogwifcoin
dogwifhat (WIF) $ 2.32 0.77%
arbitrum
Arbitrum (ARB) $ 0.570872 1.05%
mantle
Mantle (MNT) $ 0.660919 8.27%
filecoin
Filecoin (FIL) $ 3.72 0.08%