2023-09-01 18:00:20
During the second quarter of 2023, the Mexican Gross Domestic Product (GDP) rose 0.8% compared to the previous quarter, according to the National Institute of Statistics and Geography (Inegi).
The figure is lower than the timely estimate that the Inegi published in July, when it calculated that the Mexican economy had grown 0.9 percent at a quarterly rate.
The recovery of GDP after the pandemic has produced quarterly growth figures of around 1 percent in the last 10 quarters, with the exception of the third quarter of 2021, when it contracted 1.1 percent.
By activities, the primary sector (which includes agriculture and livestock activities): advanced 0.7 percent; the secondary sector (related to industry): rose 1.2 percent, and the tertiary sector (which has to do with services, such as tourism): gained 0.7 percent.
The Inegi reported that the Mexican GDP increased 3.6 percent between April and June compared to the same period, but for 2022, a figure similar to its timely estimate.
Enrique Quintana, vice president and general editorial director of El Financiero, pointed out in his August 23 column that there are economic signs that suggest an upward trajectory for Mexico’s GDP.
The columnist also highlighted the growth in the value of construction companies as a factor to take into account, in addition to the impact of the relocation of production chains, the so-called nearshoring, whose effect, he added, still seems to be limited.
“If at the takeoff of nearshoring we are already seeing increases in construction and purchase of capital goods like the ones I was referring to, we can imagine the enormous volumes that these variables will acquire when the investments in various projects are completed,” he commented.
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