Monday, February 24, 2014

México’s GDP Grew at 1.1% in 2013

by Murry Page
 24 Feb 14  
mazmessenger.com

 
According to figures from the National Institute of Statistics and Geography (INEGI), México’s gross domestic product (GDP) recorded an annual growth of 1.1 percent, which was below the federal government’s prediction of a 1.3 percent growth rate and below the 3.9 percent seen in 2012.

The INEGI said that when looking at the country’s major sectors, last year the GDP of the tertiary sector (services) increased 2.1 percent, the secondary sector (industry and construction) decreased 0.7 percent, while the and the primary (agriculture, livestock, fishing, etc..) grew at only 0.3 percent.

During 2013 the federal government reduced its GDP prediction from an initial 3.5 percent growth to a final 1.3 percent because of the slowdown in the Mexican economy.

The growth in México’s GDP for 2013 (1.1 percent) is the lowest seen since the 4.7 percent drop it had in 2009.

(from Milenio)

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