By Mexico’s
MEXICO CITY, April 30 (Reuters) – Mexico’s economy contracted 0.8% in the first quarter from the previous three-month period, a preliminary estimate from national statistics agency INEGI showed on Thursday.
That compared with a 0.5% contraction forecast from economists polled by Reuters and weakened from a revised 0.9% expansion the previous quarter.
All sectors in Latin America’s second-largest economy registered declines during the period, with the primary sector seeing the sharpest dip, down 1.4%.
Secondary and tertiary activities, respectively covering manufacturing and services, declined 1.1% and 0.6% in sequential basis.
Compared with the same period a year earlier, growth in the first quarter hit a modest 0.1%, below economists’ expectations that predicted 0.8% expansion.
(Reporting by Aida Pelaez-Fernandez, Ricardo Figueroa and Jorge Ollero; Editing by Andrew Cawthorne and Bernadette Baum)
