Iberoamerican news: Mexico’s GDP continues to grow, Bolivia cuts ties with Israel, and unemployment falls in Brazil

Marina Vanni

Mexico’s economy continues to grow: GDP rose 0.9% between July and September

Mexico’s GDP continues its upward trend and increased by 3.3% annually, according to the latest data from Inegi (National Institute of Statistics, Geography and Informatics) Quarterly Gross Domestic Product Timely Estimate.

The largest increase was seen in primary activity (5.3% annual), followed by secondary (4.5% annual) and tertiary (2.5% annual) activity.

Although the indicator was lower than expected by some analysts, the Mexican economy recorded eight consecutive quarters of growth.

Bolivia, the first Latin American country to break off relations with Israel

The government of Luis Arce announced that it is breaking diplomatic ties with Israel due to its "aggressive and disproportionate Israeli military offensive in the Gaza Strip", as stated by Vice Foreign Minister Freddy Mamani on Tuesday, October 31.

Bolivia thus becomes the first country in the region to break off relations with Tel Aviv over the war that began last October 7 following an attack by the extremist group Hamas.

Chile and Colombia have recalled their ambassadors to Israel for consultation.

Brazil’s labor market strengthens: unemployment fell to 7.7% in the last quarter

The unemployment rate in Latin America’s largest economy fell again and reached 7.7% in September, reaching its lowest level since 2015, according to official data from the Brazilian Institute of Geography and Statistics (IBGE).

The new figure implies a 0.3% reduction compared to the previous quarter.

In addition, the number of employed people reached a record high of 99.8 million, according to IGBE.

Author: Marina Vanni

Photo by Miguel Pinheiro/CIFOR
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