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Mexico’s Gross Domestic Product (GDP) grew by 0.9% in the third quarter of 2024, surpassing expectations and signaling a positive economic outlook heading into 2025. This growth was largely driven by strong performances in key sectors such as manufacturing, construction, and services, contributing to an annual growth rate of 3.3%, according to data from the National Institute of Statistics and Geography (INEGI). These results ease concerns about a potential economic recession for the coming year, offering a more stable economic outlook for Mexico.

Key Sectors Driving Growth

The manufacturing sector, particularly in industries like automotive and electronics, continues to be a major contributor to the economy. Similarly, construction projects in infrastructure and energy have boosted growth, creating jobs and stimulating domestic consumption. The services sector, which includes retail, finance, and tourism, has also played a crucial role, supported by stable inflation and exchange rates, which have fostered consumer confidence and spending.

Growth Projections for 2025

The Bank of Mexico projects a moderate growth rate of between 2% and 2.5% for 2025, driven by a stable fiscal policy and the diversification of Mexico’s exports. As global markets continue to recover, Mexico’s position in international supply chains, particularly with nearshoring trends, strengthens its economic outlook.

Mexico’s economic recovery, fueled by the resilience of key sectors and the government’s focus on stability, suggests that the country is on track for sustained growth, minimizing the risk of a recession in 2025.

Source El País