29 June 2020 The Mexican Economy Crumbled Even Further During the Lockdown

Andres Abadia (Senior International Economist)28th Jun 2020 20:20Latin America, Economic Monitor

Data released on Friday in Mexico strengthened the case for further interest rate cuts in Q3. The monthly IGAE economic indicator for April, a proxy for GDP, plunged 19.9% year-over-year, a record drop since the series started in 1993, and down from -2.3% in March.

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activity data amlo August auto sector businesses construction construction output consumer consumer goods current account current account deficit deficit economic activity economic activity data economy exports external demand gdp government health igae imports industrial sector interest rate interest rate cuts intermediate goods July June labour latam manufacturing manufacturing activity manufacturing exports May mexican economy mexico mxn MXN sell-off oil q2 rate cuts recession remain services sector trade trade balance trade data trade deficit trade surplus usmca

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