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Mexico’s economy grew 5.0 percent in 2021

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Mexico’s economy grew 5.0 percent in 2021

Mexico, Feb 1 (Prensa Latina) Mexico's economy grew 5.0 percent last year, according to a press release from the National Institute of Statistics (Inegi).
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The Institute explained that this is a rebound after the 8.4 percent plunge of the national economy in 2020, affected by the SARS-Cov-2 coronavirus, which causes Covid-19.

In the fourth quarter of 2021, the estimate of the Gross Domestic Product (GDP) reported a 0.1-percent decrease with respect to the immediate previous quarter and at annual rate showed a real increase of 5.0 (seasonally adjusted figures), Inegi noted.

According to Inegi’s data, the domestic economy contracted in the fourth quarter of 2021 less than expected, but with two consecutive periods downwards, which would have put it into a technical recession.

Mexico’s GDP showed a 0.1-percent drop at the quarterly rate, according to preliminary seasonally adjusted figures, compared to a 0.3-percent decline expected in a survey and a 0.4-percent contraction from the previous period.

According to the year-on-year rate, the GDP registered a 1.0-percent advance between October and December, below the 1.6 percent expected in the survey, compared to an expansion of 4.5 percent in original figures for the previous period.

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