* Mexico’s national statistics institute (Inegi) has released the latest figures for the country’s economic activity index (Igae), according to which Mexico’s economic activity contracted by 1.2% year-on-year in November 2019. In seasonally adjusted terms, the Igae fell 0.8% year-on-year in November 2019, driven by a 2.4% contraction in the primary sector, while the monthly Igae expanded by 0.1% compared with October 2019. The negative figures raise concerns that Mexico’s economy could see a GDP contraction in the fourth quarter of 2019, tipping the country into a recession.
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