In the third quarter of the year, the country’s Gross Domestic Product (GDP) increased one percent, compared to the immediately previous quarter, the National Institute of Statistics and Geography (Inegi) reported this Wednesday.
When broken down by component and at a quarterly rate, forestry, fishing and hunting activities, known as primary, experienced a growth of 4.6 percent, highlighted in its Timely Estimate of the Quarterly Gross Domestic Product (Eopibt).
Likewise, activities dedicated to the mining, manufacturing, construction and electricity or secondary industries; and those specialized in services and commerce, also known as tertiary, experienced an expansion of 0.9 percent, respectively, in the third quarter.
Inegi highlighted that at an annual rate and with seasonally adjusted series, the timely estimate of GDP registered an increase of 1.5 percent in real terms.
By economic activity, the statistical institute highlighted that the primaries increased 3.8 percent; those focused on services and commerce advanced 1.9 percent and secondary ones, 0.5 percent.
According to data from the institute, in the previous quarter the Mexican economy only grew 0.2 percent, compared to the first three months of the year.
He explained that this derived from a growth of 0.3 percent in service and commerce activities and secondary activities of 0.3 percent, and a drop of 1.7 percent in those that cover agriculture, animal husbandry and exploitation, forestry, fishing and hunt.
The Inegi added that this estimate offers, in the short term, the outlook on the evolution of the Mexican economy 30 days after the end of the reference quarter.
The above, based on the statistical information available at that time, the econometric techniques and models that best fit said information, as well as current international recommendations.
“The timely estimate of the quarterly GDP offers, in the short term, a complete and coherent vision of the evolution of the country’s economic activities to support decision-making,” said Inegi.
LP