Mex­ico’s econ­omy en­tered re­ces­sion in 2019

Antelope Valley Press - - SECOND FRONT -

MEX­ICO CITY — Mex­ico’s econ­omy en­tered a re­ces­sion in 2019, ac­cord­ing to pre­lim­i­nary fourth quar­ter data re­leased by the coun­try’s sta­tis­tics in­sti­tute.

While Mex­ico had fore­cast that its econ­omy would grow 2% dur­ing the first year of Pres­i­dent An­drés Manuel López Obrador’s ad­min­is­tra­tion, it in­stead grew 0.1% in the first half of the year and re­mained stag­nant in the sec­ond.

The gov­ern­ment tran­si­tion played a role by cre­at­ing a de­lay in the fed­eral bud­get, but the ad­min­is­tra­tion con­trib­uted to the con­trac­tion by can­celling ma­jor in­fra­struc­ture projects and in­ter­rupt­ing con­tracts in the en­ergy sec­tor, Coutiño said.

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