/Mexico economy drops 18.9% in 2nd quarter

Mexico economy drops 18.9% in 2nd quarter

MEXICO CITY, Mexico (AP) — Mexico’s economic activity plummeted 18.9 per cent in the second quarter compared to the same period last year as the economic shutdown caused by the COVID-19 pandemic drove the country deeper into a recession, according to preliminary government data released Thursday.

Mexico’s statistical agency said that the second quarter running from April through June was 17.3 lower than the previous quarter in its seasonally adjusted estimates for gross domestic product.

In June, the National Institute of Statistics and Geography announced that industrial activity fell 25 per cent in April compared to March, the worst monthly decline since it began tracking the monthly data in 1993.

President Andrés Manuel López Obrador has said that the economy hit bottom in late April, and on Thursday, he predicted a rapid, V-shaped recovery.


By |2020-07-31T15:42:24+00:00July 31st, 2020|news|0 Comments

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