Mexican economy exceeds expectations in August
SPY•Mexico's economic activity rose 0.6% month over month in August, above analysts' 0.3% forecast, and grew 3.3% year over year, versus a 3.1% forecast.
1. Monthly growth
Mexico's economic activity grew 0.6% in August from the previous month, exceeding analysts' 0.3% forecast. All three main sectors posted gains, official data showed.
2. Sector performance
The primary sector rose 3.5%. The secondary sector, including construction and manufacturing, grew 0.6%, while the tertiary sector increased 0.2%. On an annual basis, economic activity expanded 3.3%, compared with a 3.1% forecast.
