Tertiary activities propelled the Mexican economy during the third quarter of this year. The Gross Domestic Product (GDP) grew 2.7% during in the July-September period, compared to last year, INEGI most recent data shows.
This growth represents the best performance in the last 5 quarters. The growth performance during the 3Q18 is 0.9% higher than the previous quarter.
The GDP growth was led by the tertiary activities, especially services and retail. This segment grew 3.4% from last year. This section of the economy represents 63% of the national GDP.
Meanwhile, secondary activities – which includes manufacturing – grew 1.1%. This sector represents 30% of the Mexican economy. Also, primary activities, increased 2.2%, if compared to last year.
The private sector in Mexico forecasts a 2.2% GDP growth during the first year of president-elect Andres Manuel Lopez Obrador. This growth will be led by the tertiary activities, according to a recent survey released by Banco de Mexico (Banxico).