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Mexico | GDP falls -0.2% in 3Q21 driven by a contraction in commerce and services

Published on Friday, October 29, 2021

Mexico | GDP falls -0.2% in 3Q21 driven by a contraction in commerce and services

The economic activity grew (-) 0.8% at an annualized rate due to a fall in the tertiary sector and a moderate growth in industry

Key points

  • Key points:
  • The tertiary sector fell (-)0.6% driven by a lower dynamism in consumption from the increase in COVID-Delta cases and the faded momentum after the reopening
  • Industry grew 0.7% driven by moderate activity in construction and non-automotive manufacturing
  • With the preliminary data for 3Q21, the growth of the first 9 months of the year is 6.4%, which points a downward revision in GDP growth for 1H21 by INEGI
  • Going forward, the effect of the Delta variant on consumption dissipates, although the risk on activity of the persistence of bottlenecks and inputs shortages continues (especially in the automotive industry)

Associated documents for downloading

  • Report (PDF) Observatorio_Actividad_octubre2021.pdf Spanish October 29, 2021

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