February 22, 2017 / 2:59 PM / 5 months ago

UPDATE 1-Mexico economic growth slows in Q4 as agriculture contracts

2 Min Read

 (Adds details, background)
    MEXICO CITY, Feb 22 (Reuters) - Mexico's economy cooled in
the fourth quarter from the previous three-month period, as the
agricultural sector contracted and services slowed, the national
statistics agency said on Wednesday.
    The country's gross domestic product grew at a rate of 0.7
percent, down from a revised 1.1 percent in the third quarter,
according to seasonally adjusted data from national statistics
agency INEGI.
    Compared with the fourth quarter of 2015, GDP expanded 2.4
percent. 
    The data came in above preliminary figures released last
month, which projected quarter-on-quarter growth of 0.6 percent.
That data showed the economy growing at an annual rate of 2.2
percent for the quarter.             
    Economists have slashed their outlook for growth this year
to 1.5 percent, according to a Banamex poll, due to risks that
U.S. President Donald Trump's policies could crimp trade with
Latin America's second-largest economy and hit investments.
    The data showed Mexico's agricultural sector contracted 0.3
percent in the fourth quarter, compared with growth of 3.1
percent in the third quarter, while the services sector cooled,
growing 0.8 percent from a revised 1.3 percent in the previous
three-month period. 

 (Reporting by Gabriel Stargardter; Editing by Meredith
Mazzilli)
  

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