Mexico GDP Contracts for First Time in a Decade
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.
7/31/2019 11:15:05 AM
That was the first yearly economic contraction since the last quarter of 2009.
Industrial output plunged 2.8 percent in the second quarter, following a 0.7 percent fall in the previous period. In addition, output growth slowed sharply for both services (0.1 percent vs 1.9 percent) and agriculture sectors (1.4 percent vs 5.8 percent).