MEXICO CITY (Reuters) – Mexico’s economy likely grew between July and September for the fourth consecutive quarter, though at a slower rate due to a slowdown in the United States, a Reuters poll showed Friday.
Gross domestic product (GDP) is expected to have grown 0.6% quarter-over-quarter in seasonally adjusted terms, down from 0.9% growth in the previous quarter, according to the median forecast of 10 analysts.
“The estimate looks dismal due to the influence we see from manufacturing between Mexico and the United States and the unfavorable effect of the imminent economic slowdown of the latter,” said Alain Jaimes, an analyst at Signum Research consulting firm.
“Likewise, substantially higher interest rate levels make us forecast a loss of economic dynamism in Mexico, which may not occur in the third quarter, but will eventually arrive,” he added.
Mexico’s economy is forecast to have grown 2.8% year-on-year in the third quarter, the poll showed, marking six consecutive quarters of growth.
Mexico’s statistics institute will publish third-quarter GDP data on Monday.
(Reporting by Noe Torres; with additional reporting by Gabriel Burin in Buenos Aires and Valentine Hilaire in Mexico City; Writing by Kylie Madry; editing by Diane Craft)
