| | |  Business News 
Mexico's Economy Grows 7.6 Percent in Q2
 Xinhua
go to original
August 22, 2010
Mexico's National Statistics Agency said the nation's gross domestic product rose 7.6 percent in the second quarter compared with the same period last year.
The quarterly GDP increased 3.22 percent from the first quarter.
Agriculture production gained 6.8 percent from April to June compared with a quarter earlier, but only up 4.8 percent year-on-year.
Industrial output rose 7.8 percent year-on-year, and 1.7 percent from last quarter. Mexican manufacturing has been experiencing a boom thanks to exports to the United States, the nation's main trading partner.
Mexico's auto industry, which heavily depends on the U.S. market, reported a quarterly increase of 57.9 percent in exports, compared with a year earlier and nearly 80 percent for the first seven months of the year.
Services, which had been lagging other sections of the economy, increased 7.4 percent from a year earlier and 4.8 percent compared with last quarter.
"The annual growth was better than both our expectations," the Banamex bank said in a report. "The difference between the final result and our predication stems from the primary sector," it added.
Mexico's economy is close to reaching the production levels seen in the first quarter of 2008, before the crisis had begun to impact the country.
|
|
| |
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us