LatinNews Daily - 02 November 2020

* Mexico’s national statistics institute (Inegi) has released its preliminary figures for third quarter growth, according to which GDP grew by 12% in Q3 compared with the previous quarter. This follows the deep 17.1% quarterly contraction recorded in Q2, when economic activity ground to a halt amid attempts to contain the coronavirus (Covid-19) pandemic. The secondary sector (industrial activity) performed particularly well in Q3, with 22% quarter-on-quarter growth, while the primary sector (agriculture) expanded by 7.4%, and activities in the tertiary sector (services) grew by 8.6%. While this recovery in the third quarter is stronger than expected, the Inegi’s provisional figures show that Q3 GDP contracted by 8.6% year-on-year, while GDP has accumulated losses of -9.8% in the first nine months of the year.

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