The Mexican economy grew 3.6% in the second quarter of 2023, amid the boost of the services and industry sectors and the continuity of monetary policy in restrictive territory.
The gross domestic product (GDP) grew in the second quarter by 3.6%, according to the National Institute of Statistics and Geography (INEGI).
The vital tertiary or services sector increased 0.7%, less than the 1% first expected, according to a breakdown of GDP numbers.
Primary activities such as farming, fishing, and mining climbed 0.7% quarter on quarter, missing preliminary statistics by a tenth of a percentage point.
Secondary activities, which include manufacturing, increased by 1.2%, above the original estimate of 0.8% and pointing to strong building demand.
The Mexican central bank maintained interest rates constant for the third time this month, with no decreases expected until later this year, according to most analysts.
The Mexican economy increased 3.6% year over year in the second quarter, slightly less than the preliminary estimate of 3.7%.
