LatinNews Regional Monitor: Mexico - 27 April 2020

* According to figures from Mexico’s national statistics institute (Inegi), economic actvity in the country fell by 1.6% in February 2020 compared with February 2019, due to decreased output in the agricultural and industrial sectors. These statistics do not reflect the impact of the coronavirus (Covid-19) pandemic, which started to take effect in mid-March. Compared with February 2019, in February 2020 primary activities fell by 8.3%, secondary activities by 3.5%, and tertiary activities by 0.3%. Mexico’s GDP fell by 0.1% year-on-year in 2019, the first full year of President Andrés Manuel López Obrador’s presidency. Mexico’s federal finance ministry (SHCP) estimates that the economy will contract by between 0.1% and 3.9% this year, while the latest (21 April) forecast from the United Nations Economic Commission for Latin America and the Caribbean (Eclac) is of a 6.5% contraction.

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