LatinNews Daily - 01 February 2023

In brief: Mexico posts GDP growth in Q4

*Mexico’s national statistics institute (Inegi) has released the latest figures on its quarterly estimation of GDP growth, showing that economic activity increased 0.4% in the fourth quarter of 2022 in real terms as compared to the previous quarter. This represents the fourth consecutive quarter of growth. In the fourth quarter of 2022 economic activity advanced by 2% in the primary sector (agriculture), 0.4% in secondary activities (manufacturing) and 0.2% in tertiary activities (services). In annual terms, Inegi estimates that GDP rose 3.6 % as compared to Q4 2021. Activities increased by 3.6% in the tertiary sector, 3% in the secondary sector, and 6.3% in the primary sector. Overall, Inegi estimates that GDP grew by 3 % at an annual rate in 2022. Inegi notes that these figures may change when it reports on its final GDP figures which will be published on 24 February. The reported rise comes as Mexico’s finance ministry released a report on 30 January claiming that the country’s economy performed better than expected in 2022. 

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