mexicos economy latin americas second largest grew 43 percent yearonyear in the third quarter and a largerthan expected 10 percent from the second according to preliminary figures from the inegi statistics agency monday for july to september the services sector which represents 60 percent of mexicos economy grew 43 percent from the same period in 2021 it said industrial activity which represents just under a third of the economy grew 40 percent from that period measured quarteronquarter the economy grew 10 percent from the apriltojune period  higher than the 08 percent projected by analysts hard hit by the covid19 pandemic the mexican economy shrank by 84 percent in 2021 followed by growth of 50 percent in 2021 analysts and mexicos central bank expects growth of 20 percent for this year while the government has its sights set on 24 percent in a report earlier this month the un economic commission for latin america and the caribbean eclac projected growth of 19 percent for mexico in 2022 and 11 percent next year largely due to low dynamism in the united states  a key trading partner and source of remittances a recession in the us alongside tight fiscal and monetary policy mean that the mexican economy will struggle in the coming quarters the capital economics research company said