Friday, September 24, 2021
News

Mexico's economy rebounds 19.7% in Q2

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mexico City | Saturday, 2021 3:15:06 PM IST
Mexico's economy rebounded 19.7 per cent year-on-year in the second quarter of 2021, buoyed by good performance across all sectors, according to preliminary figures released by the National Institute of Statistics and Geography (Inegi).

Seasonally adjusted figures showed Mexico's gross domestic product (GDP) grew 1.5 per cent in the second quarter compared to the previous, Xinhua news agency quoted Inegi as saying in a statement on Friday.

In the April-to-June period, industrial activity rose 28.2 per cent year on year, while the services sector grew 17.1 per cent. These are the two sectors with the largest impact on GDP, according to the Institute.

The agricultural sector grew 6.7 per cent year-on-year in the second quarter, the autonomous statistics agency said.

In response to the figures, Mexico's BASE financial group said the data suggests the Mexican economy has recovered 92.5 per cent of what it lost since the onset of the Covid-19 pandemic at the end of February 2020.

"Grupo Financiero BASE estimates that Mexico's GDP will show growth of 6.3 per cent this year," said the private institution.

"Although the estimate can be considered high, it is still a rebound effect following the drop in 2020, which has been largely driven by growth in the US," BASE said of Mexico's main trade partner.

Mexico's economy, the second-largest in Latin America after Brazil, plummeted 8.3 per cent in 2020, its worst contraction since the 1930s, due to the effects of the pandemic.

--IANS ksk/

( 253 Words)

2021-07-31-09:18:05 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
D7 Events by Akash Goyal launch In-House...
Airtel selects Tejas Networks for optica...
Record high: Sensex breaches 60K, Nifty ...
Mumbai, Bangalore and London named among...
How Fibre2Fashion B2B wholesale is succe...
UltraTech Cement joins RE100, commits to...
More...
 
INDIA WORLD ASIA
Mukhtar Ansari says he may be poisoned i...
India administers 84 cr COVID-19 vaccine...
India reports 31,382 new COVID-19 cases...
Manipur CM inaugurates various developme...
India administers over 84 cr COVID-19 va...
Himachal: 10 die due to heavy rain in pa...
More...    
 
 Top Stories
Ajeenkya DY Patil University (ADYPU... 
Kristen Stewart nails Princess Dian... 
Exela Technologies expands electron... 
Bag from Alwar adds new angle to Ma... 
'Afghanistan wants friendly ties wi... 
Punjab CM gets Rahul's nod for cabi... 
Kamal Haasan asks party cadre to pa... 
SL FM briefs Indian counterpart on ...