1/29/2016 Financial Times
After an encouraging third quarter, Mexico’s economy lost steam again as the weak peso failed to give a much hoped for boost to the country’s manufacturing sector and low crude prices continued to batter the energy sector.
Gross domestic product grew 0.6 per cent in the last three months of 2015 from the previous quarter, according to preliminary figures released by country’s National Statistics Institute on Friday.
The pace of expansion — in line with market expectations — is a shade weaker than the 0.8 per cent rate recorded in the third quarter.
Overall, Mexico grew 2.5 per cent in 2015, up from 2.1 per cent in 2014.
After a rocky start to the year, there was hope that Latin America’s number two economy was regaining its vigour following solid third quarter growth. But the strong gains being made in the services sector, powered by the pick up in consumer spending, are still being offset by the slump in the energy sector.