* Mexico’s national statistics institute (Inegi) has released preliminary estimates which show that the country’s GDP contracted by 18.9% in the second quarter of 2020 compared with the same period in 2019, according to seasonally adjusted figures. The report also shows that primary economic activities fell by 0.3%, while secondary activities contracted by 26%, and tertiary activities by 14.5%. Following the news, Inegi’s president,
Julio Santaella, tweeted that the drop had been the biggest in the history of this particular macroeconomic indicator, and that it exceeds “
in spades” the previous largest contractions reported in the first quarter of 1995 (-8.6%) and the second quarter of 2009 (-7.7%).
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