Mexican economic growth slowed in the fourth quarter of 2018, when the manufacturing, mining and construction sectors declined, officials said on Wednesday.
Gross Domestic Product (GDP) grew by 0.3% on seasonally adjusted basis (SVR) compared to the previous three months, after a 0.8% increase in July and September, INEGI reported on Wednesday. National Bureau of Statistics.
Compared with the fourth quarter of 2017, Latin America's second largest economy grew by 1.8%, to 2.5% in the third quarter and 1.9% on the CVS basis.
For the whole of 2018, Mexico grew by 2.0%.
"It is not surprising that the economy slowed down in the fourth quarter because it was the result of a historic curse affecting Mexico every six years during a government change," said Alfredo Coutino, Director of Analysis for Latin America at Moody's Analytics.
The fall in public spending at the end of the mandate of President Enrique Peña Nieta and the transitional period before the inauguration of his successor André Manuela Lopez Obrador have influenced the evolution of GDP, he adds.
Anthony Esposito, with Sharayom Angulom;
Marc Angrand for French service