WSJ – MEXICO CITY (May 26, 2020)—Mexico’s economy contracted in the first quarter of the year, extending the 2019 downturn as the coronavirus pandemic started to affect industry and services, revised government data showed Tuesday.
Gross domestic product shrank 1.2% from the previous quarter in seasonally adjusted terms, the National Statistics Institute (INEGI) said Tuesday. Industrial output fell 1.2% and services were down 0.9%, while agricultural production increased 1.7%.
By reviewing Mexico’s previous figures it can be noted that the economy contracted by 0.6% during the last three months of 2019 and by 0.2% in each of the two prior quarters. The economy grew by 0.2% during the first quarter of 2019, the data showed.
INEGI previously said the economy contracted by a tenth of a percentage point in each of the four quarters last year.
Mexico did not apply lockdown measures to curb the spread of the novel coronavirus until late March, so the impact of the pandemic will weigh heavily on the second quarter.
The lockdown brought key sectors of Mexican industry to an almost complete standstill, and analysts estimate the economy will contract by up to 10% or more during 2020.
The Yucatan Times
more recommended stories
Governor Mauricio Vila involved in a car accident in Mérida
On its way from the Doctor’s.
Volunteer in AstraZeneca Covid vaccine test dies in Brazil
The Brazilian health authority Anvisa said.
Cruise Lines are banning passengers violating COVID-19 rules
A passenger on an AIDA Cruises voyage in.
This Mexican town has regained its ‘magic’ status
Getting your magic back is possible.
Mexico could experience a “second wave” as in Europe by the end of the year (ex-Health Secretary)
MEXICO CITY.- At the end of.
Hotels treating beaches as Private Property in Mexico will be fined
Mexico has enforced a new law.
Chihuahua, the first state to return to red on the epidemiological traffic light
Javier Corral Jurado, governor of Chihuahua, reported.
Volaris receives certificate of good sanitary practices in Yucatán
Mérida, Yucatán (October 22, 2020).- Volaris.
People in their 60S and 70S, the majority of COVID-19 fatalities
MÉRIDA, YUCATAN (October 23, 2020).- In.
Banco Santander México Will Report 3Q20 Results After Market Close On October 28th
MEXICO CITY, Oct. 22, 2020 /PRNewswire/ — Banco Santander.