Mexico’s economy grows 1.3pc in Q1

3 May, 2019 12:00 AM printer

MEXICO CITY: Mexico's economy grew by 1.3 percent in the first quarter of 2019, according to a preliminary report published Tuesday.

The growth was mainly bolstered by the service sector, which offset a contraction in industrial activities linked to the United States, according to the report by the National Institute of Statistics and Geography (Inegi), reports Xinhua.

The growth rate was similar to the 1.2-percent growth registered during the same period in 2018, said the report.

According to the report, the service sector, the largest economic contributor, grew by 1.9 percent, while industrial activities contracted by 0.7 percent. Meanwhile, the agricultural sector grew by 5.9 percent.

Based on seasonally adjusted figures, the country's economy decreased by 0.2 percent compared to the previous three-month period, the report said.

In 2018, Mexico's economy grew by 2 percent.