|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Mexico

Mexico’s GDP Shows Zero Growth in Q3

MEXICO CITY – Mexico’s gross domestic product (GDP) showed zero growth in the third quarter of this year compared to the previous quarter, according to seasonally adjusted figures released on Monday by the National Statistics and Geography Institute (INEGI).

The definitive GDP result is 0.1 percent below the preliminary figures released on Oct. 30, when the economy was said to have grown at a mediocre 0.1 percent.

In the second quarter, Mexico showed zero economic growth, compared to the first quarter, when the GDP contracted by 0.2 percent from the last quarter of 2018, a situation that motivated the government to admit that the country is going through an economic slowdown bordering on recession.

In the third quarter, primary activities increased by 3.3 percent, secondary activities fell by 0.1 percent and tertiary economic activities grew by 0.1 percent compared to the April-June quarter, according to non-seasonally adjusted figures, INEGI said in a statement.

The original figures showed that the GDP fell by 0.3 percent in this year’s third quarter compared to the same period the year before, and the year-to-date economic activity confirms that the economy is stagnating with overall growth of zero percent.

Compared with the same period last year, the stagnation in GDP in the third quarter was ascribed to the drop in secondary economic activities (-1.4 percent), partially counteracted by the 5.4 percent rise in the primary sector and the 0.1 percent rise in the tertiary sector.

On Monday, INEGI also announced that the Global Economic Activity Indicator (IGAE) for September showed a hike of 0.3 percent compared with August, in non-seasonally adjusted figures.

Nevertheless, the economic performance for September compared to the same month last year showed a 0.1 percent rise.

Mexican President Andres Manuel Lopez Obrador has said many times so far this year that the country’s economy would grow by 2 percent in 2019 and by an average of 4 percent during his six-year term in office, which will end in 2024.

However, recently he has changed his discourse, saying that although the economy is not growing this year at the expected clip, development is progressing and wealth is being redistributed in Mexico.

So far this year, most analysts have reduced their economic forecasts for Mexico and currently growth for 2019 is pegged at around 0.5 percent.

The Mexican government on July 30 announced a plan to provide 485 billion pesos ($25.4 billion) to support the economy and spur consumption, a decision that was received well by a good portion of the country’s business community.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved