Mexican economic growth hits four-month high in August

Mexico's economy grew in August at its fastest in four months, with services bouncing back from a dip, data from the national statistics institute showed on Monday.

Adjusted for seasonal swings, Mexico's economy expanded by 0.5 percent in August versus July, the strongest pace since April, the figures showed.

The data showed the services sector expanded by 0.4 percent compared with July, when it shrank.

Previously released data had already shown that Mexican industrial output expanded in August for the third month in a row, as a ramp-up in manufacturing and utilities offset slowdowns in construction and mining.

Compared with the same month a year earlier, Latin America's second-biggest economy expanded by 2.6 percent. That compared with a 2.38 percent rate estimated in a Reuters poll.