MEXICO CITY, July 30 (Reuters) – Mexico’s economy rebounded in the second quarter from the previous three-month period, a preliminary estimate from national statistics agency INEGI showed on Thursday, growing at its fastest pace since late 2020.
Latin America’s second-largest economy expanded 1.5% in the second quarter, INEGI said in a report, with all three main sectors posting growth.
GDP rebounded from a 0.6% contraction in the first quarter and exceeded the 1.3% increase expected by economists in a Reuters poll.
The economic expansion was mainly fueled by primary activities, which include farming, fishing and mining, which expanded 3.3% on a sequential basis.
The secondary sector — which includes manufacturing and construction — and services activity increased 1.6% and 1.5% in the period, respectively.
Compared with the same quarter last year, the Mexican economy grew 2.2% in the period, also above a 1.5% year-on-year rise expected by economists.
(Reporting by Aida Pelaez-Fernandez and Ricardo Figueroa; Editing by Hugh Lawson and Gabriel Araujo)
