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LatinNews Daily - 02 August 2021

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In brief: Strong performance for Mexico’s GDP in first half of the year

* Mexico’s national statistics institute (Inegi) has released its latest figures on GDP growth in the country, which show that in real year-on-year terms, Mexico’s economy expanded by 7% in the first six months of 2021, and by 19.7% in the second quarter. Year-on-year GDP growth in Q2 is due to a general surge in all sectors, with the primary (agriculture) and tertiary (services) sectors growing by 6.7% and 17.1% respectively, while the secondary sector (industry) expanded 28.2%. According to Inegi, Mexico’s GDP grew 1.5% in seasonally adjusted terms during the April-June 2021 quarter compared with Q1. This performance confirms a trajectory of economic recovery after the 8.2% GDP contraction recorded last year as a result of the coronavirus (Covid-19) pandemic.