Mexico’s economy likely contracted from October to December, marking the first quarterly decrease in more than three years, a Reuters poll showed on Wednesday.
The median forecast from 11 analysts estimated a 0.2% decline in gross domestic product from the third quarter to the fourth quarter (MXGDQP=ECI), using seasonally adjusted figures.
If the results are in line with estimates, it would be the first quarter-on-quarter contraction for Latin America’s No. 2 economy since it logged a 0.9% shrinkage in the third quarter of 2021.
On an annual basis, Mexico’s GDP was seen growing 1.2% (MXGDYP=ECI), moderating from the 1.6% year-on-year growth registered in the third quarter.
The INEGI national statistics institute is set to release its fourth-quarter GDP data on Thursday.
Source: Reuters.com