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Mexico’s GDP rebounds 12% in the third quarter

A restaurant in Mexico City during the reopening of commercial activities.CARLOS JASSO / Reuters

The Gross Domestic Product (GDP) of Mexico grew 12% during the third quarter of the year compared to the previous quarter, according to the estimate made by the National Institute of Statistics and Geography (Inegi). The data reflect the gradual economic reactivation of the country, which suffered the worst impact derived from the pandemic during the second quarter, when its economy plummeted 17.3%.

By components, the GDP of secondary activities grew by 22% quarter-on-quarter, while tertiary activities grew 8.6% and primary activities grew by 7.4%.

When compared to the third quarter of 2019, the GDP of the North American country has fallen by 8.6%, with falls in secondary activities (-8.9%) and tertiary (-8.8%). On the other hand, primary activities grew 7.4%.

In the first nine months of the year, the accumulated GDP fell by 9.8% compared to the same period of the previous year.