MEXICO CITY, July 26 (Reuters) - Mexican economic growth likely accelerated in April through June due to the reopening of economic activities as pandemic-related restrictions were lifted and due to the spillover effect of robust growth in top trade partner the United States, a Reuters poll showed on Monday.
Gross domestic product (GDP) is expected to have expanded 1.7% in seasonally-adjusted terms in the second quarter from the first three months of the year, according to a median forecast of a poll of 14 analysts. The economy expanded 0.8% in the January to March period versus the final quarter of 2020.
If the projection materializes, it would be the fourth consecutive quarter of seasonally-adjusted growth.
The survey also forecast that GDP grew 19.8% in the second quarter from a year earlier. That compares with a year-on-year contraction of 3.6% in the first quarter 2021.
Hammered by the restrictions brought about by the coronavirus pandemic, Latin America's second-largest economy shrank 8.5% in 2020, its worst performance since 1932 during the Great Depression.
Despite a spike in the pandemic, "Mexico's economy continued to recover thanks to the solid U.S. market, which led to increased demand for Mexican exports and a greater flow of remittances," said Alfredo Coutino, head of Latin America Economic Research at Moody's Analytics.
Some analysts see economic growth slowing down in the coming quarters.
"The third COVID-19 wave may reduce activity in the short term and we believe external conditions will be less favorable," said Nikhil Sanghani, emerging markets economist at Capital Economics.
National statistics agency INEGI will publish preliminary GDP data for the second quarter on Friday. (Reporting by Miguel Angel Gutierrez in Mexico City; Additional reporting by Gabriel Burin in Buenos Aires; Writing by Anthony Esposito; Editing by Chris Reese and Marguerita Choy)
