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Mexico economy slips in December, hinting at weak close to 2021 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Workers seen inside a construction site in Mexico City on January 30, 2020. REUTERS/Andres Martinez Casares

MEXICO CITY (Reuters – Mexico’s economy is likely to have shrunk by 0.2% in December compared to the same month a decade earlier. A preliminary estimate of INEGI, a national statistical agency, showed Tuesday that Mexico’s economy was expected shrinking by 0.2%. It also pointed out a weak performance in the last quarter of 2021.

INEGI stated that while secondary activity, including manufacturing, increased by 0.4% over the previous year, tertiary, or the service economy contracted by 1.3%.

Mexican gross domestic product (GDP) contracted in the third quarter https://www.reuters.com/markets/us/mexican-economy-shrinks-more-than-expected-third-quarter-2021-11-25 of 2021, and the latest figures are likely to fuel bets that the economy was close to doing the same in the October-December period, although the data are far from complete.

In October, the economy contracted from September. The monthly November data are expected to be published Jan. 25,

Bottlenecks in global supply chain networks have significantly hampered Mexico’s recovery after the effects of the coronavirus epidemic.

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