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Economy & Business - August 2019

Mexico responds to poor second-quarter growth with new stimulus plan

A preliminary report posted by the Mexican National Statistics agency on 30 July 2019 ahead of the official release of data on the second quarter of 2019 on 23 August showed that the Mexican economy expanded by 0.1% over April-June, when adjusted for seasonal swings. This means that the Mexican economy technically avoids being described as in recession, as this is normally used for a period of two consecutive quarters of negative GDP. However, analysts were quick to point out that this fragile growth still leaves Mexico in a precarious position, particularly given that it was driven almost entirely by the tertiary sector, which saw a growth of 0.2%. The primary sector, including agriculture, saw a decline of 3.4% from the previous quarter, whilst the secondary sector remained flat.

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