News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Mexican GDP Contracts 0.1% in Q4 2021 and Enters Technical Recession

Mexican GDP Contracts 0.1% in Q4 2021 and Enters Technical Recession

Richard Snow, Analyst

Mexican GDP Contracts in Q4 2021

Q4 GDP = - 0.1% (Quarter on Quarter)

GDP (Year on Year) = + 1.0%

Mexican GDP Contracts 0.1% in Q4 2021 and Enters Technical Recession

Customize and filter live economic data via our DaliyFX economic calendar

Advertisement

Mexico's gross domestic product (GDP) contracted in the fourth quarter by 0.1% from the previous three-month period in seasonally adjusted terms, according to preliminary data published on Monday by the national statistics agency.

It marks a second straight quarter of negative growth, after a third quarter contraction of 0.4%, which has put Latin America's second-largest economy in a technical recession.

For 2021 as a whole, the economy expanded by 5.0%, after shrinking by 8.5% in 2020 in Mexico's worst recession since the Great Depression of the 1930s.

GDP grew by 1.0% in Q4 versus Q4 2021.

Soon after the release, USD/MXN continued higher, up around 0.2% but then recovered to around 0.1% higher than when the data was released.

USD/MXN 5 Minute Chart

Mexican GDP Contracts 0.1% in Q4 2021 and Enters Technical Recession

Source: IG, prepared by Richard Snow

--- Written by Richard Snow for DailyFX.com

Contact and follow Richard on Twitter: @RichardSnowFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES