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Mexico economy increases 2 percent in 2018

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Staff Writer | January 31, 2019
Mexico's economy grew 2 percent in 2018, with the end of the year marked by weak industrial activity due to decreased demand from the United States, according to a preliminary report.
Mexico street
LatAm   Mexico's economy relies heavily on the United States
The growth rate was very similar to the 2.1-percent increase registered in 2017, the National Institute of Statistics and Geography (Inegi) said.

In the fourth quarter of 2018, gross domestic product (GDP) in Latin America's second largest economy expanded by 1.8 percent year-on-year, affected by a 0.7-percent decline in industrial activity.

Based on seasonally adjusted figures, the country's GDP grew 0.3 percent in the fourth quarter compared to the previous three-month period, according to the Inegi.

Mexico's economy relies heavily on the United States, its neighbor and main trading partner.

According to government projections, Mexico's economy could grow between 1.5 and 2.5 percent in 2019.