Mexico's real GDP declined by 2.9% y/y in Q1 2021
In Q1 2021, Mexico's real GDP contracted by 2.9% y/y, seasonally adjusted data shows. The figure points to improvement compared to Q4 2020 when the economy shrank by 4.5% y/y. Primary sector activity rose by 2.8% y/y, but secondary and tertiary sector activity rates declined respectively by 2.3% y/y and 3.6% y/y.
On a quarterly basis, Mexico's economy increased by 0.4% q/q, underpinned by a 0.7% q/q rise in tertiary sector activity with secondary sector activity unchanged and primary sector activity down by 1.3% q/q.
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