MEXICO CITY – Mexico’s gross domestic product increased 2.5 percent in the fourth quarter of 2015 compared with the same period in 2014, according to a preliminary estimate released Friday by the National Institute of Statistics and Geography, or Inegi.
Mexican GDP grew at an annualized rate of 2.6 percent in the third quarter of last year.
In non-seasonally adjusted figures, GDP increased 0.6 percent in October-December from the third quarter.
The advance estimate of quarterly GDP is a new initiative for Inegi, which said when it launched the product in October that the purpose is to provide a timely, reliable indicator for economic decision-makers.
The definitive estimate of fourth-quarter GDP will be released Feb. 23.
Inegi’s preliminary reading implies growth of 2.5 percent for 2015 as a whole.
The Mexican government’s official forecast, revised downward in August, called for GDP to expand by between 2 percent and 2.8 percent last year, taking into account the fall in oil prices and a global context described as “complex and volatile.”
The government predicts the economy will grow by between 2.6 percent and 3.6 percent this year.
In 2014, the GDP of Latin America’s No. 2 economy after Brazil increased 2.1 percent, far short of the government’s projection of 3.9 percent growth.