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Mexico's Q1 GDP contracts 0.2%

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Mexico's Q1 GDP contracts 0.2%

Mexico's first-quarter 2019 GDP contracted 0.2% from the prior quarter, according to statistics agency INEGI, confirming preliminary figures released in April.

Manufacturing activities shrank 0.6% while the services segment narrowed 0.2%. Agricultural activities expanded 2.6%.

Compared to the first quarter of 2018, Mexico's GDP grew 0.1%, slightly lower than the 0.2% preliminary figure released earlier. The year-over-year growth was anchored to a 5.6% expansion in agricultural activities and a 1.0% increase in services, although manufacturing declined 2.1%.