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Mexico Q2 Economic Growth Steady At 3.7%

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The Mexican economy expanded at a stable pace in the second quarter, largely led by strong growth in the tertiary sector, preliminary data from the National Institute of Statistics and Geography, or INEGI, showed on Monday.

Gross domestic product advanced an unadjusted 3.7 percent year-over-year in the June quarter, the same pace of growth as in the March quarter.

Regarding large economic activities, the tertiary sector expanded the most, by 4.2 percent annually in the second quarter, almost in line with the 4.3 percent gain in the previous quarter.

The annual growth in the primary sector improved to 2.5 percent from 2.3 percent. The secondary activity grew at a slightly faster pace of 2.6 percent versus 2.5 percent expansion in the first quarter.

On a seasonally adjusted basis, GDP advanced 0.9 percent sequentially in the second quarter, in line with expectations.

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