The preliminary results indicate that in the fourth quarter of 2024 and with figures adjusted by seasonality, the Gross Domestic Product (GDP) of Mexico descended 0.6% in real terms, with respect to the immediate previous quarter; This figure was confirmed, it would be the first quarterly fall since the July-September 2021 period.
According to the information published by the National Institute of Statistics and Geography (INEGI), the fall of GDP was due to the fact that in the October-December 2024 period, primary activities (agriculture, fishing, livestock) decreased to a quarterly rate of 8.9% and secondary (mining; construction; manufactures; generation, transmission and distribution of water, light and gas) of 1.2%.
The GDP of tertiary activities (trade and services) was the only one that increased, at a quarterly rate of 0.2%.
Compared to the four quarter of 2024, the preliminary estimate of INEGI indicates that GDP presented an increase of 0.6%, which would be the lowest annual rate since the first quarter of 2021.
In the reference quarter and annual rate, the timely estimate of GDP by economic activity was as follows: the tertiary amounted to 2.2%, while the GDP of secondary activities fell 1.7%and that of primary, 4.6%.
Based on these figures, in 2024, preliminary reading shows that GDP increased 1.3% compared to 2023.
Original figures
With figures without seasonal adjustment (original figures), the timely information of INEGI revealed that in 2024, Mexico’s GDP grew 1.5%, compared to 2023.
This figure is at the lower limit of the rank estimated by the federal government in the general economic policy criteria presented to the Congress of the Union last November, of a GDP growth between 1.5% and 2.5%
Inside, primary activities fell 2.5%, while secondary schools increased 0.3%and tertiary, 2.3%.
Follow us on Google News to always keep you informed
Inspy, discover and share. Follow us and find what you are looking for on our Instagram!
