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Mexico’s economy grew 1.5 percent in the second quarter of 2021

Mexico’s economy grew 1.5 percent in the second quarter of 2021

Mexico, Aug 1 (Prensa Latina) The Mexican economy grew 1.5 percent in the second quarter of the year compared to the previous period, as reported in a bulletin issued by the National Institute of Statistics and Geography (INEGI).
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The publication indicates that according to an estimate of the Gross Domestic Product (GDP), one year after the collapse caused by the Covid-19 pandemic, economic activity has experienced a rebound effect, since it increased 19.6 percent from April to June compared to the same period in 2020.

Julio Santaella, president of the body, commented that after eight consecutive quarters with a negative annual growth rate, the GDP finally rose.

Santaella added that the high value is the result of the comparison with the collapse observed between April and June of last year. The result adds four quarterly increases as a result of the reactivation of economic activity after the collapse caused by the health emergency.

INEGI pointed out that GDP fell 17.1 percent in the second quarter of 2020 compared to the previous quarter, but between July and September it rose 12.1 percent.

From last October to December it increased 3.3 percent, and increased 0.8 percent in the first three months of 2021.

At an annual rate, this is the first time it has increased since the second quarter of 2019, although the 18.7 percent contraction experienced in the second quarter of 2020 was the largest in 90 years.

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