The economy in Mexico contracts in the second quarter of 2018

Mexico’s economy contracted 0.1% in the April-June period compared to the previous quarter, mainly driven by declines in agricultural and industrial activities, according to preliminary figures recently released by the National Institute of Statistics and Geography (INEGI).

In the second quarter, the Gross Domestic Product (GDP) fell for the first time since the fourth quarter of 2015 in real terms, causing the peso to depreciate against the dollar after knowing the weak data on the local economy.