Mexico GDP Falls for 1st Time in 3 Years on Slower Services

07/29/16 Bloomberg

digital economyMexico’s economy contracted in the second quarter for the first time in three years as growth in the services industry slowed and exports fell.

Gross domestic product declined 0.3 percent from the first three months, according to preliminary figures released by the national statistics institute Friday. The median forecast of 13 economists surveyed by Bloomberg was for a contraction of 0.1 percent. From the previous year, GDP climbed 2.4 percent, in line with estimates. The institute will release final growth figures Aug. 22.

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