Mexico Economy Expanded 2.5% in Fourth Quarter on Consumption

2/23/16 Bloomberg

Mexico’s economy in the fourth quarter expanded in line with a preliminary report published last month as domestic consumption rebounded amid record-low inflation.

Gross domestic product rose 2.5 percent from a year earlier, according to final figures released by the national statistics institute Tuesday. From the previous quarter, GDP advanced 0.5 percent. Full year growth accelerated to 2.5 percent from 2.3 percent in 2014.

Mexicans had more money in their pockets last year after the inflation rate fell to the lowest in almost half a century. As a result, consumer spending remained resilient amid falling oil prices and stagnant manufacturing expansion in the U.S., the nation’s main trade partner. Mexico has been a bright spot for growth compared with much of Latin America, with GDP forecast to expand 2.6 percent this year, according to analysts polled by Bloomberg, compared with an estimate for a 0.6 percent contraction in the region.

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