LatinNews Daily - 27 February 2023

In brief: Mexico’s economy expands slightly above forecast

* Mexico’s national statistics institute (Inegi) has released its final GDP figures for 2022, which show that in Q4 economic activity increased by 0.5% in seasonally-adjusted terms as compared to the previous quarter. This is up from an initial forecast of 0.4%. The same figures show economic activity in the primary sector (agriculture) grew by 2.0% compared with the previous quarter, while the secondary sector (industry) was up 0.5% and the tertiary (services) sector was up 0.1%. In annual terms, the Inegi figures show that GDP rose 3.7% in Q4 2022 as compared to Q4 2021. Activities increased by 6.0% year-on-year in the primary sector, 3.2% in the secondary sector, and 3.7% in the tertiary sector. Overall, in annual terms Mexico’s GDP was up 3.1% in 2022 compared with 2021, with primary activities expanding 2.7%, secondary activities up by 3.3%, and tertiary activities by 2.8%.

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