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LatinNews Daily - 13 December 2019
In brief: Moody’s considers Mexico to be in economic recession
* Alfredo Coutiño, the head of macroeconomic analysis and forecasting for Latin America at Moody’s Analytics, has said that the organisation’s view is that Mexico’s economy is in technical recession. In November, Mexico’s national statistics institute (Inegi) revealed that its revised economy data showed that GDP contracted by 0.1% in the fourth quarter of 2018 and in the first and second quarters of 2019, while growth in the third quarter was flat (0%). But the government led by President Andrés Manuel López Obrador has denied that Mexico’s economy is in recession insisting that growth has only “stagnated”. However, speaking at a conference Coutiño said that “Mexico classifies as an economy in technical recession. If the recession is slight or not is a different debate”.
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