Mexican economy likely to have grown 1.9 pct in Q3, says Wells Fargo

The Mexican economic growth is likely to have accelerated in the third quarter of this year. The monthly data for the month of July and August has not been as strong as expected. The industrial production began the third quarter on a negative note, with construction activity falling 1 percent sequentially in July, before rising just 0.3 percent in the month of August. Mining activity dropped 2.3 percent while utilities output dropped 0.5 percent on the month.

The manufacturing sector is the bright spot, largely driven by its automobile production. Manufacturing activity rose 0.5 percent in August from July and rose 3.3 percent year-on-year.  According to a Wells Fargo research report, the Mexican economy is likely to have grown 1.9 percent in the third quarter. The economy had expanded 1.8 percent in the second quarter.

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