Mexico | GDP drops -53.2% annualized in 2Q20

The depth of the decline brings 2020 growth closer to the lower end of our forecast range, currently between -12.0% and -9.0%, in annual variation.

Key points

• Key points:
• The industry sector falls (-)65.9% annualized, while the services sector declines (-)46.6%.
• The recovery in the services sector will be slow and stony amid the massive job loss; the industrial sector will show higher dynamism due to its high correlation with the US. manufacturing sector.

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