Mexico’s economy continued weak growth in first quarter, poll shows: Reuters poll

By Thomson Reuters Apr 29, 2024 | 9:55 AM

MEXICO CITY (Reuters) – Mexico’s economy continued to grow at a weak rate in the first quarter, due largely to a drop in manufacturing and agriculture that was only partially offset by services, according to a Reuters poll on Monday.

The median estimate of 10 financial institutions was that the gross domestic product (GDP) grew 0.1% in the quarter, the same rate as in the previous quarter, and the lowest since the third quarter of 2021, seasonally adjusted figures showed.

If the estimate is confirmed, Latin America’s second-largest economy will have grown for 10 consecutive quarters.

At a yearly rate, GDP will have grown 2.1%, below the 2.5% registered in the previous quarter, according to the poll.

Mexico’s statistics agency INEGI will publish GDP growth data for the first quarter of 2024 on Tuesday.

(Reporting by Noe Torres; Additional reporting by Gabriel Burin in Buenos Aires; Editing by Peter Graff)