Economics
Mexico Economy Stagnated in 4th Quarter as Industry Slumped
- Preliminary GDP fell a slight 0.02% from previous three months
- The economy contracted 0.1% in the full year of 2019
Photographer: Alejandro Cegarra/Bloomberg
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Mexico’s economy was flat in the fourth quarter as industrial output shrank, capping an economic contraction in 2019, the first year of President Andres Manuel Lopez Obrador’s term.
Gross domestic product slipped 0.02% from three months earlier, better than the 0.2% contraction forecast in a Bloomberg survey. A slight up-tick in services kept activity from contracting further. On an annual basis, GDP declined 0.3%, matching the drop recorded in the previous quarter, the country’s statistics institute reported on Thursday.