Mexico's economy grows 2 percent in November 2014

The Mexican economy grew by 2 percent year-on-year in November 2014, official figures showed.

In a statement released on Tuesday, the National Institute of Statistics and Geography (INEGI) said the growth was attributed to increases in all the three sectors of the economy -- the primary, secondary and tertiary sectors.

The primary sector grew 0.7 percent compared to the same month in 2013 mainly thanks to an increase in agricultural production, said the INEGI.

The secondary sector, which the agency defined as including mining, construction and manufacturing, as well as the supply of utilities, such as electricity, water and gas, saw 1.8 percent growth.

The tertiary services sector, including commerce, real estate, cargo transport, credit and banking institutions, expanded by 2.3 percent.

The figures represent the INEGI's Global Indicator of Economic Activity (IGAE), which aims to gauge the short-term direction or trend of the nation's economy by studying preliminary data from a range of productive sectors, including agriculture, industry, commerce and some services.

Compared to the previous month, the IGAE grew 0.49 percent in November, the INEGI said, with the monthly breakdown in output showing the primary sector fell 2.02 percent, while the second and tertiary sectors grew 0.23 percent and 0.33 percent, respectively. Endi