Mexico Economy Rebounds in Third Quarter to Fastest Growth in Over a Year Michael O'Boyle - Reuters
go to original November 21, 2013

MEXICO CITY - Mexico's economy rebounded in the third quarter, growing at its fastest pace in more than a year as manufacturing and services picked up after shrinking in the second quarter, official data showed on Thursday.

Gross domestic product grew 0.84 percent in the third quarter compared with the second quarter, when it shrank by a revised 0.55 percent in its first contraction since 2009, according to a statement from the national statistics institute.

Latin America's second-biggest economy flagged this year on weaker U.S. demand for its exports and a slump in local construction as well as a drop in government spending by a new administration, but growth is seen picking up next year.

... The data beat expectations for a 0.7 percent expansion in a Reuters poll of 18 analysts. The services sector grew 1.3 percent compared to the previous quarter while industry expanded by 0.89 percent, the institute said.

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