Mexico's economic activity expands 3.5% in July

ISTANBUL

Mexico's economic activity in July expanded 3.5% in real terms at an annual rate, the country's statistical authority announced Friday.

The figure came in line with market expectations, but slowed down from an annual gain of 4.1% in June.

Annually, primary and secondary activities increased 4.4% and 4.9%, respectively, while tertiary activities rose 2.4%, the National Institute of Statistics and Geography (INEGI) said in a statement.

On a monthly basis, economic activity rose 0.2% in July, compared to the previous month.

The market estimate for the figure was to show a monthly gain of 0.3%, after economic activity expanded 0.5% in June.

Monthly, primary and tertiary activities fell 0.2% and 0.1%, respectively, but secondary activities increased 0.5%, according to INEGI.