According to Bloomberg.com, economists expect Mexico’s second-quarter gross domestic product to be revised slightly down on Friday August 23rd, with some going as far as to predict a negative number that would mean Latin America’s second-largest economy slipped into technical recession this year.
The median estimate of economists in a Bloomberg survey is for the final GDP reading to show no growth from the previous quarter. That would mean a negative revision to the 0.1% expansion preliminarily reported July 31. The national statistics institute Inegi will release the final figure at 6am on Friday.
Whether Mexico dips into a slight recession or not, growth is slowing to a crawl during President Andres Manuel Lopez Obrador’s first year in office. While he’s promised to boost social spending, that’s running up against his pledge to end wastefulness in government, which has led to budget cuts and a slowdown in public spending. And halting the privatization of the energy sector has hurt investor confidence.
But it was the poor industrial production figure in June that caused some economists to lower their second quarter estimates. Output fell 2.9% from the year-earlier period, more than analysts had expected.
While the flat GDP expected by four of 14 economists wouldn’t send Mexico into recession, another three in the survey see contractions of between 0.1% and 0.2%. The rest see no revision to the preliminary 0.1% growth figure.
The median estimates may still change as more economists can enter their predictions on Thursday.
more recommended stories
Guatemala admits it is a cocaine producing nation, not just transit point
GUATEMALA CITY, Sept 19 (Reuters) –.
Mérida: in the eyes of the world
Peace Nobel prize winners arrive in.
6 tropical storms whirling at once have set a record
Sure, it’s the middle of hurricane.
Hurricane Jerry now Category 1, path remains out to sea
Jerry has strengthened into a Category.
Goddess of water Chalchiuhtlicue statue auctioned in France for 290 thousand Euro
Following up on the article published.
Mexico pays tribute to Germán Valdés “Tin Tan”, the Mexican Jerry Lewis
It’s been 46 years since Germán.
AMLO budget seen as insufficient to revive construction sector
The spending part of the 2020.
Mexico’s federal government authorizes SAT access to all bank accounts
The Mexican government has determined that.
Despite opposition from the Mexican government pre-Hispanic pieces are auctioned in France
At the Drouot Millon auction house in.
Tropical Storm Lorena is now a category one hurricane heading towards Cabo
Tropical Storm Lorena is strengthening as.