Mexico Gets Hit by More Frustrating Economic Data Just Days Before Presidential Election
- Economy grew 0.3% in first quarter, while inflation sped up
- Presidential election will take place in less than two weeks
Factory workers in Ecatepec de Morelo, Mexico.
Photographer: Cesar Rodriguez/BloombergThis article is for subscribers only.
Mexico’s economy eked out weak growth at the start of the year as inflation sped up further above target in a fresh sign of the challenges its next president will face after the June 2 election.
Gross domestic product expanded 0.3% in the first quarter from the previous three-month period while activity slowed down in March, the nation’s statistics institute reported on Thursday. At the same time, headline annual inflation accelerated to 4.78% at the start of May, further above the 3% target.