Mexico GDP Falls for First Time in 3 Years on Slower Services

08/22/16 Bloomberg

peso by Guanatos GwynMexico’s economy contracted 0.2 percent in the second quarter from the prior three months, less than calculated last month, as growth in the services industry slowed and exports fell.

Gross domestic product shrank 0.2 percent, according to a report from the national statistics institute Monday, the first drop in three years. Preliminary figures on July 29 had shown a 0.3 percent decline. From the previous year, GDP climbed 2.5 percent, compared with the 2.4 percent median estimate of economists surveyed by Bloomberg.

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