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Workers in a building under construction in Mexico City
MEXICO CITY, Jan 18 (Archyde.com) – Mexico’s economy contracted in December, pointing to a slowdown in the recovery of productive activities following the impact of the pandemic, figures from the statistics institute showed on Tuesday.
The Timely Indicator of Economic Activity (IOAE) estimated a year-on-year decrease of 0.2% in the second largest economy in Latin America during the last month of 2021. In November, the IOAE showed a growth of 1.2% compared to the same month of 2020.
In its report on Tuesday, the statistical institute indicated that secondary activities would have presented an increase of 0.4% last month in the interannual comparison, while tertiary activities would have dropped 1.3%.
The Mexican economy suffered an 8.5% drop in 2020, its worst performance since the 1930s. However, the recovery has lost momentum in recent months due to global supply chain bottlenecks hampering activity. of the companies.
(Reporting by Noé Torres, with additional reporting by Ricardo Figueroa, Marion Giraldo and Dave Graham)
