LatinNews Daily - 27 November 2023

* Mexico’s national statistics institute (Inegi) has released the latest figures for GDP growth which show that in the third quarter of 2023, GDP rose 1.1% as compared with the previous quarter. This is up on its 0.9% preliminary estimate for the quarter revealed last month. According to the latest Inegi report, in quarterly terms, the GDP of primary activities (agriculture) advanced 2.6%, while secondary activities (manufacturing) grew by 1.3%, and tertiary activities (services) by 0.9%. In annual terms, Inegi estimates that GDP rose by 3.3% in the third quarter of 2023, with activities in the primary sector up 5.5%, those in the secondary sector increasing by 4.4% and those in the tertiary sector up 2.6%. Inegi has also released the latest figures for the monthly global indicator of economic activity (IGAE), which show that in September, IGAE increased by 0.6% at a monthly rate. In seasonally adjusted terms, tertiary activities increased 0.9% and secondary activities by 0.2%, while primary activities fell by 3%. In annual terms, IGAE grew 3.7%, with secondary activities increasing 4.5%, tertiary activities by 3.5%, and primary activities by 0.8%.

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