Mexico's economy entered a mild recession during the first half of 2019 and...
MEXICO CITY - Mexico’s economy entered a mild recession during the first half of 2019 and was flat in the third quarter, revised data from the national statistics agency showed on Monday, handing a setback to the plans of President Andres Manuel Lopez Obrador.
A recession is usually defined by economists as two consecutive quarters of contraction in gross domestic product. Next year, the economy should bounce back somewhat, expanding by 1.1%, lifted by several factors including a recovery in oil and gas output, stronger construction activity, wage gains and a pick-up in public sector spending, he said.
The veteran leftist took office in December 2018 pledging to ramp up growth to 4% per year. Instead the economy has slowed, and he has sought to deflect criticism by saying poorer parts of Mexico have benefited more from his policies.
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