Mexican economy inches forward in November from October

MEXICO CITY, Jan 25 (Reuters) - Mexican economic activity advanced by 0.3% in November from October, official data showed on Tuesday, tapering somewhat the risk that Latin America's no. 2 economy fell into recession in the final half of last year.

The seasonally adjusted growth reported by national statistics agency INEGI was marginally higher than the figure of 0.2% forecast in a Reuters poll of analysts, and compared to a month-on-month contraction of 0.2% in October.

Meanwhile, preliminary data for December showed the economy had slipped by 0.2% https://www.reuters.com/world/americas/mexico-economy-slips-december-hinting-weak-close-2021-2022-01-18 compared to the same month a year earlier.

Mexican gross domestic product (GDP) contracted in the third quarter of 2021. Two consecutive quarters of negative growth would mean the country had entered a technical recession.

In unadjusted terms, the economy expanded 1.7% from November, beating the Reuters forecast for a rise of 0.8%. (Reporting by Dave Graham Editing by Chizu Nomiyama)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.