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Mexico Economy Shrinks Less than Expected in Q3
Mexico’s gross domestic product shrank 8.6 percent year-on-year in the third quarter of 2020, following a record 18.7 percent plunge in the previous period and compared with market expectations of an 8.7 percent drop, amid the easing of coronavirus lockdown restrictions. The industrial sector contracted 8.8 percent, less than a 25.7 percent slump in the second quarter of the year; and services activities shrank 8.8 percent, after declining 16.2 percent. In addition, the primary sector fell 8.6 percent, following an 18.7 percent contraction in the prior period. On a quarterly basis, the country’s economy grew 12 percent, the most since series began, rebounding from a record 17.1 percent plunge in the second quarter of the year and beating market forecasts of an 11.9 percent expansion.
Published on 2020-10-30

Mexico GDP Contracts at Record Pace in Q2
Mexico’s gross domestic product shrank 18.7 percent year-on-year in the second quarter of 2020, below a preliminary estimate of a 18.9 percent contraction and following a downwardly revised 1.4 percent drop in the previous period. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. The industrial sector slumped 25.7%, faster than a 2.6% fall in the prior quarter, in particular manufacturing (-29.6% vs -2.6%), construction (-34.2% vs -8.2%) and mining (-4.8% vs 4.7%). The services sector contracted 15.6%, following a 0.7% contraction, of which retail trade (-28.9% vs 0.8%), wholesale trade (-21.7% vs -4.4%), hotels & restaurants (-70.4% vs 7.9%), culture, recreation and sports services (-76.9% vs -14.1%) and transport & storage (-39.3% vs -2.7%). Also, primary activities shrank 0.5%, after growing 0.9% in the previous period. On a quarterly basis, the country’s economy plunged 17.1%, the most on record, after contracting 1.2% in Q1.
Published on 2020-08-26

Mexican Economy Shrinks at Record Pace
Mexico’s gross domestic product contracted 18.9 percent year-on-year in the second quarter of 2020, following a 1.4 percent decline in the previous period and compared with market expectations of a 19.2 percent slump, a preliminary estimate showed. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. The industrial sector plunged 26 percent, after shrinking 2.9 percent in the prior quarter; the services sector contracted 15.6 percent, following a 0.7 percent contraction in the first three months of the year. Also, primary activities shrank 0.7 percent, after growing 1.4 percent in the previous period. On a quarterly basis, the country’s economy slumped 17.3 percent, the most on record, after a 1.2 percent contraction in Q1 but slightly below forecasts of a 17.8 percent slump.
Published on 2020-07-30

Mexican Economy Contracts the Most in Over 10 Years
The Mexican economy shrank 1.4 percent year-on-year in the first quarter of 2020, below a preliminary estimate of a 1.6 percent contraction and following an upwardly revised 0.7 percent decline in the previous period. It was the sharpest contraction since Q4 2009, as the coronavirus pandemic started to hit the economy. The industrial sector shrank 2.9 percent, faster than a 2 percent decline in the prior quarter, in particular manufacturing (-2.9% vs -1.5%) and construction (-8.2% vs -5.7%). Also, services activities contracted 1.4 percent, after shrinking 0.7 percent, namely culture, recreation and sports services (-14.1% vs -1.3%); hotels & restaurants (-7.9% vs 3.1%); health & social services (-1.9% vs 0.1%); and transport & storage (-2.8% vs -0.5%). Meanwhile, primary activities grew 1.4 percent, recovering from a 0.3 percent contraction in the prior period. On a quarterly basis, the country’s GDP shrank 1.2 percent, after dropping an upwardly revised 0.6 percent in Q4.
Published on 2020-05-26

Mexico Economy Shrinks the Most since 2009
The Mexican economy shrank 1.6 percent year-on-year in the first quarter of 2020, following a 0.5 percent contraction in the previous period and compared with market expectations of a 2.7 percent decline, a preliminary estimate showed. It was the sharpest contraction the last quarter of 2009, as the coronavirus pandemic began hitting the economy. The industrial sector shrank 0.9 percent, after stalling in the prior quarter; the services sector contracted 3.2 percent, faster than a 2.1 percent decline in Q4; and primary activities growth slowed (1.5 percent vs 1.6 percent). On a quarterly basis, the country’s gross domestic product shrank 1.6 percent, after a 0.1 decrease in the previous period but below forecasts of a 2.1 percent contraction.
Published on 2020-04-30

Mexican Economy Contracts More than Initially Thought
The Mexican economy shrank 0.5 percent year-on-year in the last quarter of 2019, above a preliminary estimate of a 0.4 percent contraction and following a 0.3 percent decrease in the previous period. The industrial sector shrank further (-2.1% vs -1.5% in Q3), mainly due to manufacturing (-1.7% vs 1.3%) and primary activities growth slowed (1.6% vs 5.4%). In addition, the services sector stalled, after growing 0.1 percent in the third quarter, of which retail trade (-5.7% vs -3.5%), transport, storage and postal (-0.5% vs 1.3%), and financial services & insurance (-4.3% vs -3.6%). On a quarterly basis, the country’s gross domestic product fell 0.1 percent, the same as in the prior period. Considering full 2019, the economy contracted 0.1 percent, after expanding 2.1 percent in 2018. It was the first contraction in ten years, as businesses reined in investment amid uncertainty over the economic management of López Obrador during his first year as a President.
Published on 2020-02-25

Mexican Economy Contracts 0.3% YoY in Q4
Mexico's gross domestic product shrank 0.3 percent year-on-year in the last quarter of 2019, the same as in the previous period and compared with market forecasts of a 0.2 percent contraction, a preliminary estimate showed. The industrial sector contracted further (-1.8 percent vs -1.4 percent in Q3) and primary activities growth slowed (1.9 percent vs 5.4 percent). On the other hand, the services sector expanded 0.2 percent, faster than a 0.1 percent increase in the prior period. On a quarterly basis, the economy stagnated for the second consecutive period and compared with consensus of a 0.1 percent contraction. Considering 2019 as a whole, the country’s economy shrank 0.1 percent, after expanding 2.1 percent growth in 2018. It was the first contraction in ten years, as businesses reined in investment amid uncertainty over the economic management of López Obrador during his first year as a President.
Published on 2020-01-30

Recession in Mexico Confirmed in Q3
The Mexican economy shrank 0.3 percent year-on-year in the third quarter of 2019, below a preliminary figure of a 0.4 percent decline and an upwardly revised 0.9 percent contraction in the previous period. The industrial sector fell less than initially thought while services unexpectedly grew.
Published on 2019-11-25

Mexican Economy Enters Recession in Q3
The Mexican economy shrank 0.4 percent year-on-year in the third quarter of 2019, following a 0.8 percent contraction in the previous period and missing market expectations of a 0.1 percent growth, a preliminary estimate showed. The services sector contracted while industrial output shrank at a slower pace and agricultural activities grew further.
Published on 2019-10-30

Mexico Economy Contracts for 1st Time since 2009
The Mexican economy shrank 0.8 percent year-on-year in the second quarter of 2019, compared to a preliminary reading of a 0.7 percent contraction and a 1.2 percent growth in the previous period, matching market expectations. It was the first yearly economic contraction since the last quarter of 2019, mainly due to a decline in industrial activity.
Published on 2019-08-23

Mexico GDP Contracts for 1st Time Since 2009
The Mexican economy shrank 0.7 percent year-on-year in the second quarter of 2019, following a 1.2 percent growth in the previous period and missing market expectations of 0.2 percent expansion, a preliminary estimate showed. That was the first yearly economic contraction since the last quarter of 2009, due to a slump in industrial activity.
Published on 2019-07-31

Mexico Annual GDP Growth Rate Revised Down to 1.2%
The Mexican economy advanced 1.2 percent year-on-year in the first quarter of 2019, below a preliminary figure of 1.3 percent and 1.7 percent in the previous period. It is the weakest expansion since Q1 2018, as services slowed and the industrial sector continued to shrank. Primary activities rose slightly less than initially estimated.
Published on 2019-05-24

Mexico GDP Annual Growth at 1-Year Low
The gross domestic product in Mexico advanced 1.3 percent year-on-year in the first quarter of 2019, easing from a 1.7 percent expansion in the previous period, a preliminary estimate showed. It is the slowest growth rate since the first quarter of 2018.
Published on 2019-04-30

Mexico GDP Annual Growth Revised Down to 1.7% in Q4
The gross domestic product in Mexico advanced 1.7 percent year-on-year in the fourth quarter of 2018, below an earlier estimate of 1.8 percent and compared to a 2.5 percent growth in the previous period. Figures also came worse than market expectations of a 1.8 percent rise. It is the weakest growth in three quarters, as services slowed and the industrial sector contracted.
Published on 2019-02-25

Mexico GDP Annual Growth Slows to 1.8% in Q4
The gross domestic product in Mexico advanced 1.8 percent year-on-year in the fourth quarter of 2018, following a 2.5 percent rise in the previous period, a preliminary estimate showed. It is the slowest growth in three quarters, as services rose less and industrial activity contracted. Meanwhile, primary activities expanded faster.
Published on 2019-01-30

Mexico Annual GDP Growth Revised Down to 2.5% in Q3
The Mexican economy expanded 2.5 percent year-on-year in the third quarter of 2018, below a preliminary figure of 2.6 percent and a 2.6 percent rise in the previous quarter, mainly as services grew less than initially estimated.
Published on 2018-11-23

Mexico GDP Annual Growth Rate at 2.6% in Q3
The Mexican economy expanded 2.6 percent year-on-year in the third quarter of 2018, the same as in the previous period, a preliminary estimate showed. It remained the strongest growth rate since the first quarter of 2017, mainly due to services and primary activities. Meantime, the industrial sector grew at a slower pace.
Published on 2018-10-30

Mexico Annual GDP Growth Revised Down to 2.6% in Q2
The Mexican economy expanded 2.6 percent year-on-year in the second quarter of 2018, below a preliminary figure of 2.7 percent and following an upwardly revised 1.4 percent growth in the previous quarter. It was the strongest growth rate since the first quarter of 2017, driven by services and industrial sector.
Published on 2018-08-24

Mexico GDP Growth Strongest in Over a Year
The Mexican economy grew 2.7 percent year-on-year in the second quarter of 2018, following a 1.3 percent expansion in the previous quarter, the preliminary figure showed. It was the strongest GDP growth since the first quarter of 2017, mainly due to industry and services.
Published on 2018-07-31

Mexico Annual GDP Growth Revised Up to 1.3% in Q1
The Mexican economy expanded 1.3 percent year-on-year in the first quarter of 2018, above a preliminary figure of 1.2 percent, following a 1.5 percent growth in the previous quarter and slightly below market expectations of 1.35 percent. It was the weakest growth rate since the last quarter of 2013, mainly due to industrial and services sector.
Published on 2018-05-23