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Mexico's economy grows 2.5 percent in 2015, in line with forecasts

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Staff writer ▼ | February 25, 2016
Mexico's gross domestic product (GDP) grew 2.5 percent year on year in 2015, the national statistics institute said.
Mexico   The National Institute of Statistics and Geography:
The annual growth rate was in line with forecasts by government agencies and financial analysts, the National Institute of Statistics and Geography of Mexico (INEGI) said.

The Ministry of Finance had predicted 2 percent to 2.8 percent growth for 2015, while the Bank of Mexico projected it at 1.9 percent to 2.4 percent, according to INEGI.

The agency, however, did not give any details of the annual GDP rate.

As for the fourth quarter of 2015, the GDP grew 0.5 percent compared with the third quarter, and 2.5 percent compared to the same period of 2014, INEGI said.

The fourth quarter's year-on-year growth figure was the highest registered in the past three years, said INEGI, crediting the increase on an uptick in activity across all economic sectors.

The primary sector, including agriculture, livestock, forestry and fishing, saw a 2.9 percent increase, while the secondary sector - construction, manufacturing, mining and utilities - saw a 0.2 percent increase.