Mexico's economy ekes out 0.1% expansion in 4th quarter, posts growth of 3.1% for 2023
Construction workers ride on a beam hanging from a crane at the construction site of a residential high rise building in Mexico City, June 17, 2022. Mexico's economy barely eked out a 0.1% increase in the fourth quarter, bringing estimated growth for 2023 to 3.1%, according to preliminary figures published Tuesday, Jan. 30. 2024, by Mexico’s National Statistics Institute. Credit: AP/Marco Ugarte
MEXICO CITY — Mexico's economy barely eked out a 0.1% increase in the fourth quarter, bringing estimated growth for 2023 to 3.1%, according to preliminary figures published Tuesday by Mexico’s National Statistics Institute.
The institute said that services advanced 0.1% in the fourth quarter, agricultural output declined by the same amount and manufacturing remained unchanged.
Inflation declined to 4.66% by the end of 2023, but domestic interest rates remained high at 11.5%. High rates at home and abroad increased the cost of servicing Mexico’s debt, the Treasury Department acknowledged.
Mexico’s peso remained strong Tuesday at about 17.20 to $1 and the Mexican stock exchange’s main index was trading slightly higher.
'I do think he saw the writing on the wall' Rex Heuermann's Attorney Michael Brown sat down with Newsday following his client's sentencing to discuss the case. NewsdayTV's Shari Einhorn reports.
'I do think he saw the writing on the wall' Rex Heuermann's Attorney Michael Brown sat down with Newsday following his client's sentencing to discuss the case. NewsdayTV's Shari Einhorn reports.
