Mexico's economy grew faster than expected in August, with the statistics agency INEGI's monthly activity index up 3.3% on a year earlier and 0.6% on July, The Rio Times reports.
Both figures beat analysts' forecasts, of 3.1% and 0.3% respectively. Services and industry each grew by about 3.5% year on year in unadjusted terms, while farming and mining fell 2.6%.
The index is closely watched as an early guide to economic growth, with third-quarter GDP figures due on 30 October. The Bank of Mexico, whose main rate stands at 6.5%, next sets rates on 5 November, and the stronger data give it less reason to rush further cuts, according to the report.
Source: The Rio Times
