The latest assessment of Mexican gross domestic product from the National Institute for Statistics and Geography showed a 1.1 percent increase during the first quarter of 2018. In a year that promises considerable shake-ups for Mexico due to the upcoming presidential election and various other factors, early positive economic indicators like this may serve as a stabilizing influence on the nation's political and business leaders.
Measured year-over-year from 2017, this first-quarter uptick represented a 2.4 percent jump. It also improved on the final quarter of 2017, which only saw an 0.8 percent increase. By industry, services, agriculture and industry grew 1.2, 0.8 and 0.7 percent, respectively.
2017 was a rough year for the Mexican economy, characterized by high inflation - the highest seen in more than 16 years - and a considerable amount of controversy on the world stage, according to Reuters. The latter stemmed mostly from contentious talks regarding renegotiation of the North American Free Trade Agreement, various particulars of which provide favorable conditions for the Mexican export market and could damage the sector if altered or removed.
The future of the NAFTA talks remains uncertain, with conversations yet to reach a favorable conclusion for all sides as of May 15, Bloomberg reported. However, the GDP increase and signs of relaxing inflation could indicate a calmer overall Mexican economy in the near future.