Economy in Mexico Grew at Fastest Pace in Two Years During 4th Quarter Brendan Case and Eric Martin - Bloomberg
go to original February 20, 2015

Mexico’s economy expanded at the fastest pace in two years in the fourth quarter as a rebound in U.S. demand boosted exports.

Gross domestic product climbed 2.6 percent from the year earlier, the national statistics institute said Friday, in line with the median estimate of 25 economists surveyed by Bloomberg. The economy advanced 0.7 percent from the previous three-month period.

Increased exports and a domestic construction rebound bolstered Mexico’s “moderate” recovery in the fourth quarter, central bank Governor Agustin Carstens said in a presentation Wednesday. Growth is forecast to accelerate this year to 3.3 percent, the fastest since 2012, according to analyst estimates compiled by Bloomberg.

“The U.S. is still growing and the manufacturing sector has a very bright outlook,” Marco Oviedo, chief Mexico economist at Barclays Plc, said by phone before the GDP report was released. “Consumption has been weak, but investment is recovering to the levels we had in 2012.”

The peso weakened 0.3 percent to 15.0478 per U.S. dollar at 8:12 a.m. in Mexico City.

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