Mexico's economy grows at fastest pace since late 2020 in Q2

Mexico’s economy grew 1.5% in the second quarter, rebounding from a 0.6% contraction in the prior three-month period, according to a preliminary estimate released Thursday by INEGI, the national statistics agency. The expansion marked Mexico’s fastest pace since late 2020 and beat economists’ expectations from a Reuters poll, which had forecast a 1.3% rise. All three main sectors posted growth: primary activities, including farming, fishing and mining, increased 3.3% sequentially, while the secondary sector rose 1.6% and services climbed 1.5%. On a year-on-year basis, GDP gained 2.2%, above the 1.5% expected.