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LatinNews Daily - 31 July 2020

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In brief: Mexico registers historic GDP drop in Q2

* 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%).