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LatinNews Daily - 26 November 2021

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In brief: Inegi revises down Mexico’s Q3 GDP growth

* Mexico’s national statistics institute (Inegi) has released new figures which show that Mexico’s GDP contracted 0.4% in the July-September 2021 quarter, in seasonally-adjusted terms compared with the previous quarter. This is a bigger contraction that the 0.2% decline initially reported at the end of October, which signalled the first quarterly decline since the Mexican economy began recovering from the coronavirus (Covid-19) pandemic which struck in March 2020. The updated Inegi figures showed that the tertiary sector (services) declined 0.9% compared with the previous quarter while the primary (agriculture) and secondary (manufacturing) sectors were up 1.3% and 0.3% respectively. In annual terms Mexico’s GDP grew 4.7% in the third quarter of 2021 compared with the same quarter in 2020, with the primary sector up 0.3%; the secondary sector up 5.1% and the tertiary sector up by 4.4%.