Mexico's economic activity expands 3.5% in August

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's economic activity in August expanded 3.5% in real terms at an annual rate, the country's statistical authority announced Monday.

The figure came higher than market expectations of a 3.4% increase, after posting an annual gain of 3.5% in July.

Annually, primary and secondary activities increased 2.7% and 5%, respectively, while tertiary activities rose 2.8%, the National Institute of Statistics and Geography (INEGI) said in a statement.

On a monthly basis, economic activity rose 0.4% in August, compared to the previous month.

The market estimate for the figure was to show a monthly gain of 0.3%, after economic activity expanded 0.2% in July from the month before.

Monthly, primary and secondary activities rose 2.6% and 0.3%, respectively, and tertiary activities increased 0.3%, according to INEGI.