Mexico’s economy slowed in third quarter | World

Mexico City (AP) — According to data released Thursday by the National Institute of Statistics and Geography, Mexico’s economy slowed in the third quarter, shrinking slightly compared to the past three months, but still significantly year-on-year. It exceeds.

Alfredo Coutinho, director of Moody’s Analytics Latin America, said Mexico’s aim to eliminate outsourcing as one of the causes of the August COVID-19 outbreak surge, supply chain disruption, and 0.4% quarterly contraction. He pointed out the impact of the new law.

Mexico’s President Andres Manuel Lopez Obrador urged the public to “see calmly” the effects of the economic slowdown, saying the economy will still end the year with 6% growth due to increased employment and foreign investment. .. He said the number of workers currently enrolled in the social security system is higher than before the pandemic.

The economy’s third-quarter performance was 4.7% higher than last year’s same quarter.

Unfortunately, economic news closed at $ 21.44 on Wednesday, the day after the peso fell 1%. The BASE Financial Group attributed the plunge in the peso to the surprising announcement that Victoria Rodriguez Séha would become the nominee for the central bank’s Lopez Obrador after withdrawing the nomination for Arturo Elera. Rodriguez Seha is the Under Secretary of Finance’s Expenditure and will face confirmation.

Mexico’s economy slowed in third quarter | World

Source link Mexico’s economy slowed in third quarter | World

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