LatinNews Daily - 26 November 2019

* Mexico’s national statistics institute (Inegi) has released new figures which confirm that Mexico’s GDP stagnated in Q3 2019 with a growth rate of 0%. Inegi also revised its assessment of Mexico’s GDP growth in Q4 2018 to show it contracted by 0.1%. A 0.1% contraction was also registered in Q1 2019 and Q2 2019. The revision of Q4 2018 growth figures to show a 0.1% contraction means that for nine months, or three consecutive quarters, Mexico has technically been in recession territory. In response to the Inegi figures, Alfredo Coutiño, Moody’s Analytics director for Latin America, tweeted that “the Mexican economy is in recession by reporting not only two but three quarterly contractions or three annualised contractions”.

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