Mexico Follows Brazil Into Recession With Quarterly Decline
- Mexican gross domestic product shrinks again in fourth quarter
- Supply chain troubles, lack of stimulus have hindered growth
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Mexico became the second major Latin American economy to fall into recession last year, as supply chain shortages and lack of fiscal stimulus hurt activity.
Gross domestic product fell 0.1% in the fourth quarter from the previous three-month period, less than the median estimate for a 0.3% decline in a Bloomberg survey, according to preliminary data released by Mexico’s statistics institute Monday. This follows a 0.4% contraction during the third quarter.