Mexico's economy shrank 5.4% in December
21 de enero de 2021, 0:0
Mexico, Jan 21 (Prensa Latina) Mexico's economy likely contracted by 5.4% in December as a result of the Covid-19 fresh outbreak, according to a preliminary estimate from the National Statistics Institute (INEGI).
INEGI said there was lots of negative growth rates throughout 2020, but these were increasingly lower as a recovery symptom, but December reversed such a positive trend that began on June.
Using the Timely Indicator of Economic Activity (IOAE) - the fastest measurement to measure real economic activity -, INEGI said Mexico's economy shrank 4.3% in November and 5.4% in December.
In November, industries shrank 3.3% and services up to 5.4%. In December, such economic activities fell 4.9% and 6.6%, respectively.
International financial organizations and investment banks estimated that Mexico's economy shrank about 9.0% in 2020. The coronavirus pandemic pitched Mexico into its sharpest downturn in decades.
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