MEXICO CITY—Mexico’s economic activity was flat in the third quarter following three quarters of negative output, putting the economy on track for its worst yearly performance in a decade.
Gross domestic product, which measures output of goods and services, was unchanged from the second quarter in seasonally adjusted terms, the National Statistics Institute said Monday.
Revised numbers showed GDP posting 0.1% contractions in each of the previous three quarters, meeting the conditions of a technical recession defined by two consecutive quarters of negative growth, according to many economists.
In the third quarter, industrial production fell 0.1% from the second quarter, while services rose 0.1% and agricultural production rose 3.3%.
GDP was down 0.3% from the third quarter of 2018, and was unchanged in the first nine months of the year, the statistics institute reported.
The economy is widely expected to show little or no growth in all of 2019, which will make this its worst performance since the recession of 2009.
Write to Anthony Harrup at anthony.harrup@wsj.com
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2019-11-25 12:56:00Z
https://www.wsj.com/articles/mexican-economy-stagnated-in-third-quarter-11574686563
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