Mexican Q2 Growth Less Than Expected

(RTTNews) - Mexico's economy expanded at a slower pace in the second quarter, and the rate of growth was below expectations, data released by statistical office INEGI showed Friday.

Gross domestic product (GDP) grew 3.3 percent on an annual basis in the second quarter, slower than the 3.6 percent rise economists' forecast. In the first quarter, the GDP increased 4.6 percent year-on-year.

The GDP of primary activities dropped 3.7 percent annually in the second quarter, while the GDP of secondary activities increased 3.4 percent. The GDP of tertiary activities grew 3.6 percent from the same the second quarter of last year.

Sequentially, the GDP rose a seasonally adjusted 1.11 percent in the three-month period. In the first half of the year, the economy grew 3.9 percent from the corresponding period last year.

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