*Mexico’s gross domestic product (GDP) increased by 0.2% in the second quarter of 2024 compared to the previous quarter, according to preliminary figures released by the national statistics institute (Inegi). This growth, slightly below market expectations, was driven by quarterly increases in the manufacturing (+0.3%) and services (+0.3%) sectors, offset by a decline in the agricultural sector (-1.7%). On an annual basis, Mexico’s GDP grew by 1.1% in seasonally adjusted terms as compared to the second quarter of 2023, accumulating a 1.9% growth in the year-to-date. Activities in the services sector grew 1.7% year-on-year and those in the manufacturing sector by 0.5% while the agricultural sector decreased by 2.2%.
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