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Mexican economy grew 0.1 pct in 3rd quarter -preliminary estimate

Credit: REUTERS/ALAN ORTEGA AVILA

Mexico's economy grew by 0.1 percent in the third quarter compared with the previous three-month period, but fell short of forecasts, a preliminary estimate from the national statistics agency showed on Wednesday.

Updates with details of report

MEXICO CITY, Oct 30 (Reuters) - Mexico's economy grew by 0.1 percent in the third quarter compared with the previous three-month period, but fell short of forecasts, a preliminary estimate from the national statistics agency showed on Wednesday.

Compared with the same quarter a year earlier, the economy shrank by 0.4 percent, the statistics agency said.

Economists polled by Reuters had forecast that gross domestic product would expand 0.2% in the July-September period after the economy stagnated in the second quarter.

Mexico's economy has been treading water since President Andres Manuel Lopez Obrador took office in December pledging to ramp up economic growth to an average of 4% per year.

Investor confidence in Mexico, Latin America's second largest economy, has been shaken by some policy moves made by Lopez Obrador, a leftist exponent of economic nationalism.

In particular, his decision to cancel a partly built, $13 billion airport for Mexico City and his retreat from the prior government's opening of the oil and gas industry to private capital have raised doubts about his economic credentials.

(Reporting by Dave Graham; Editing by Steve Orlofsky)

((dave.graham@thomsonreuters.com; +52 1 55 5282 7146; Reuters Messaging: dave.graham.thomsonreuters.com@reuters.net))

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