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LatinNews Daily - 27 July 2020
In brief: Mexico registers record contraction in May
* Mexico’s national statistics institute (Inegi) has released the latest figures for the country’s economic activity index (Igae), which fell by 21.6% in May compared with the same month in 2019, due to the effects of the coronavirus (Covid-19) pandemic. The figures showed that secondary economic activities decreased by 29.7% year-on-year, and tertiary activities by 19.1%, while primary activities rose by 2.5%. The monthly indicator of economic activity also fell by 2.6% in comparison with April 2020. Inegi’s director Julio Santaella tweeted in response that “the annual decrease of 21.6% in economic activity in May 2020, the second month of lockdown, is the largest contraction in the history of the Igae”.
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