Mexico's economy slows less than expected in third quarter

Key facts

• Third-quarter GDP grew 0.9%, exceeding the 0.7% expected.
• Year-on-year growth was 3.2%, above the 2.5% forecast.

Mexico's economy grew 0.9% in the third quarter, according to preliminary data from national statistics agency INEGI, surpassing economists' expectations of 0.7% growth. This slowdown follows a stronger 1.4% expansion in the second quarter. The services sector saw a 1.1% expansion, while manufacturing and construction increased by 0.8%. Primary activities, including farming, fishing, and mining, declined by 0.4%. On a year-over-year basis, the economy expanded 3.2%, exceeding the 2.5% forecast.