MEXICO CITY – Mexican economic activity advanced by 0.3% in November from October, official data showed on Tuesday, tapering somewhat the risk that Latin America’s no. 2 economy fell into recession in the final half of last year.
The seasonally adjusted growth reported by national statistics agency INEGI was marginally higher than the figure of 0.2% forecast in a Reuters poll of analysts, and compared to a month-on-month contraction of 0.2% in October.
Meanwhile, preliminary data for December showed the economy had slipped by 0.2% https://www.reuters.com/world/americas/mexico-economy-slips-december-hinting-weak-close-2021-2022-01-18 compared to the same month a year earlier.
Mexican gross domestic product (GDP) contracted in the third quarter of 2021. Two consecutive quarters of negative growth would mean the country had entered a technical recession.
In unadjusted terms, the economy expanded 1.7% from November, beating the Reuters forecast for a rise of 0.8%.
(Reporting by Dave Graham; Editing by Chizu Nomiyama)
