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  HOME | Mexico

Mexico’s Economy Likely Grew 1% in Q3, Government Says

MEXICO CITY – Mexico’s real gross domestic product (GDP) grew about 1 percent on an annualized basis in the third quarter, the Finance and Public Credit Secretariat said.

“The Mexican economy continued the process of expansion, according to the main macroeconomic indicators,” in the July-September period, the secretariat said in reports on the economy, public finances and the public debt submitted to Congress.

GDP growth in the third quarter, on a seasonally adjusted basis, was 0.90 percent better than in the previous quarter, when the economy contracted 0.70 percent, the secretariat said.

The number of workers registered with the Mexican Social Security Institute totaled 16.5 million as of Sept. 30, up by 475,750, or 3 percent, for the year, the secretariat said.

The federal government’s net debt was the equivalent of 35.1 percent of GDP as of Sept. 30, the secretariat said.

Hurricanes Ingrid and Manuel hit Mexico in mid-September, affecting the agriculture, retailing, transportation and tourism industries in several regions.

“It is estimated that the impact of these events will reduce 2013 GDP growth by 0.1 percentage points,” the Finance and Public Credit Secretariat said.


 

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