First Contraction Seen in Mexico's GDP in Three Years Anthony Harrup - The Wall Street Journal
go to original July 29, 2016

The Mexican economy contracted in the second quarter, marking its first decline in three years, as industrial production fell and services remained unchanged from the previous period.

Gross domestic product, a broad measure of output in goods and services, fell 0.3% seasonally adjusted from the first quarter, the National Statistics Institute said Friday. The contraction, which translates into an annualized drop of 1.2%, was the country’s first since the second quarter of 2013.

Compared with the second quarter of 2015, Mexico’s GDP expanded 2.4%, which was above the 2.2% median estimate of 12 economists polled by The Wall Street Journal, but down from 2.6% in the first quarter.

The preliminary numbers could be revised when the institute publishes its next GDP report on Aug. 22.

Read the rest at The Wall Street Journal

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