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Mexico GDP Q3 2023

Mexico: GDP growth records best result since Q3 2022 in the third quarter

A third estimate confirmed that economic growth sped up in the third quarter, with GDP increasing 1.1% on a seasonally adjusted quarter-on-quarter basis (Q2: +0.9% s.a. qoq). Q3’s reading marked the strongest growth since Q3 2022. On an annual basis, economic growth ebbed 3.3% in Q3, from the previous period’s 3.4% growth.

Private consumption grew 1.2% in Q3 (Q2: +0.7% s.a. qoq). Public consumption growth was 0.5% (Q2: +1.2% s.a. qoq). Meanwhile, fixed investment growth moderated to 4.4% in Q3, from the 6.9% expansion logged in the previous quarter. On the external front, exports of goods and services contracted 3.5% in Q3 (Q2: -3.1% s.a. qoq). In addition, imports of goods and services contracted 2.3% in Q3 (Q2: +0.7% s.a. qoq).

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