MEXICO CITY – Mexico’s gross domestic product (GDP) grew 1.8 percent in the second quarter, compared to the same period in 2016, the National Institute of Statistics and Geography (INEGI) said Tuesday.
The expansion of the GDP between April and June was driven by the service sector, with a 3.2 percent increase, and 0.70 percent growth in the primary sector, which includes agriculture, forestry, fishing and mining.
Manufacturing, however, contracted by 1.1 percent, the INEGI said.
In the first quarter of 2017, Mexico’s GDP grew 2.3 percent, compared to the same period last year.
Mexico’s GDP grew at a 3 percent annualized rate in the second quarter on a seasonally unadjusted basis.
Latin America’s second-largest economy grew 2.3 percent in 2016, thanks to growth in the resources and service sectors.
Mexico’s GDP grew 2.5 percent in 2015, a figure that was above the 2.1 percent growth registered in 2014 and the 1.4 percent figure for 2013.