MEXICO CITY, Feb 25 (Reuters) – Mexico’s economy grew quicker than first estimated during the fourth quarter as the country recovered from its sharpest economic contraction in nearly nine decades, official data showed on Thursday.
National statistics agency INEGI said the economy grew by 3.3% in the fourth quarter of 2020 compared with the previous three-month period, revising up its Jan. 29 preliminary estimate that gross domestic product (GDP) had expanded by 3.1%.
Battered by disruptions triggered by the coronavirus pandemic, GDP in Latin America’s second-biggest economy plummeted by 8.5% across the whole of 2020 in seasonally-adjusted terms, INEGI said, confirming its preliminary estimate.
That is the biggest decline since 1932 during the Great Depression.
Compared with the same quarter a year earlier, the Mexican economy shrank 4.5% in the final three months of 2020 in adjusted terms.
Meanwhile, the economy grew 0.1% in December from November and contracted 2.7% from December of 2019, a separate INEGI report showed. (Reporting by Anthony Esposito; Editing by Alex Richardson for REUTERS).
more recommended stories
Improvement and rehabilitation actions at Merida’s “Animaya” Zoo
Mérida, April 17, 2021. The Mérida.
Detentions of Central American migrants in March by Mexican authorities more than doubled (WSJ)
MEXICO CITY—Mexico increased detentions and deportations.
Western US prepares for possible 1st water shortage declaration
CARSON CITY, Nev. (AP) — The.
Environmentalists say Tulum suffers from overdevelopment
(AP) — Mexican environmental authorities said.
Super Typhoon Surigae rapidly intensifies to a Cat. 5 near the Philippines
Super Typhoon Surigae surged in intensity.
Uptown kindergarten shut down in Merida for operating without complying with health regulations
Mérida: For offering preschool service in.
Manatee sighting on the beaches of Telchac Puerto, Yucatán
It is very uncommon for this.
Lady finds corpse while walking her dog in La Joya de Opichén park
Mérida, Yucatán (April 17, 2021).- On.
Raúl Castro’s resignation from the Communist Party ends an era in Cuba
Raúl Castro, first secretary of the.
National Guard agents arrested for extortion in Cancun
Cancun, Quintana Roo (April 17, 2021).-.