Mexico’s economy posted no growth in the fourth quarter from the previous three-month period in seasonally adjusted terms, barely better than a preliminary figure published previously, final gross domestic product (GDP) data showed on Friday.
Preliminary numbers published in January showed GDP in Latin America’s second-largest economy shrank in the fourth quarter by 0.1% from the previous three-month period, putting Mexico in a technical recession.
National statistics agency INEGI also downwardly revised third-quarter growth figures, saying GDP shrank 0.7% in the period from the previous quarter. It had previously estimated a 0.4% contraction for the third quarter.
The economy expanded 5.0% in the whole of 2021 in seasonally adjusted terms, the data showed, coming after Mexico suffered in 2020 its worst recession since the Great Depression of the 1930s.
Source: El Economista