Mexico’s Economy in 2020 Suffers Worst Slump Since Great Depression

RIO DE JANEIRO, BRAZIL - Mexico’s economy last year suffered its biggest annual contraction since the 1930s, although it recovered better than expected from the ravages of the COVID-19 pandemic during the final quarter, preliminary data showed on Friday, January 29th.

Gross domestic product in Latin America’s second-biggest economy tumbled by 8.5% last year in seasonally adjusted terms, according to the preliminary estimate issued by national statistics agency INEGI. The fall was slightly shallower than the consensus forecast in a Reuters poll for an 8.8% decline.

Still, the contraction was the sharpest since 1932 during . . .

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