Mexico may revise up 2017 GDP forecast if data remains solid

FILE PHOTO: An employee stacks cocoa sacks in La Giralda chocolate factory in Mexico City, Mexico, July 21, 2017. REUTERS/Edgard Garrido/File Photo

MEXICO CITY (Reuters) - The chief economist at the Mexican finance ministry said on Monday that there could be an upward revision to the official 2017 gross domestic product forecast if final data is as good as preliminary data.

Earlier Monday, the national statistics agency reported the economy grew 0.6 percent in seasonally adjusted terms during the second quarter compared to the first quarter, according to preliminary data.

In May, the government revised up its outlook for GDP growth this year to a range of between 1.5 percent and 2.5 percent.

Finance ministry chief economist Luis Madrazo told reporters that the government would issue new guidance after final second quarter data is released in August.

Reporting by Michael O’Boyle