Mexico's economy grows 2.5 percent in 2015

Mexico's gross domestic product (GDP) grew 2.5 percent year on year in 2015, the national statistics institute said on Tuesday.

The annual growth rate was in line with forecasts by government agencies and financial analysts, the National Institute of Statistics and Geography of Mexico (INEGI) said.

The Ministry of Finance had predicted 2 percent to 2.8 percent growth for 2015, while the Bank of Mexico projected it at 1.9 percent to 2.4 percent, according to INEGI.

The agency, however, did not give any details of the annual GDP rate.

As for the fourth quarter of 2015, the GDP grew 0.5 percent compared with the third quarter, and 2.5 percent compared to the same period of 2014, INEGI said.

The fourth quarter's year-on-year growth figure was the highest registered in the past three years, said INEGI, crediting the increase on an uptick in activity across all economic sectors.

The primary sector, including agriculture, livestock, forestry and fishing, saw a 2.9 percent increase, while the secondary sector -- construction, manufacturing, mining and utilities -- saw a 0.2 percent increase, it said.

Activity in the tertiary sector, including commerce, real estate, transportation, warehousing and other services, grew 3.7 percent, it said.

Mexico grew 2.14 percent in 2014 and 1.39 percent in 2013, respectively. Endit