Economic Bulletin
Summary
While the recovery in global demand and the sizeable fiscal stimulus are supporting global and euro area activity, the near-term economic outlook remains clouded by uncertainty about the resurgence of the pandemic and the roll-out of vaccination campaigns. Persistently high rates of coronavirus (COVID-19) infection and the associated extension and tightening of containment measures continue to constrain economic activity in the short term. Looking ahead, progress with vaccination campaigns and the envisaged gradual relaxation of containment measures reinforce the expectation of a firm rebound in economic activity in the course of 2021. Inflation has picked up over recent months on account of some idiosyncratic and temporary factors and an increase in energy price inflation. At the same time, underlying price pressures remain subdued in the context of significant economic slack and still weak demand.
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MEXICO CITY, Mar 8 2021 (IPS) - The trend of the Mexican economy during the last two years has not been positive. INEGI, the official bureau of statistics, has just reported that GDP registered a fall of 8.5 percent compared to 2019 with seasonally adjusted figures. But in 2019 GDP also receded, although in far less measure, less than one percentage point. However, it must be considered that the Mexican economy has been falling for 6 quarters (compared to the previous year). Considering the population growth rate (1.2 percent per year), the fall in the GDP per capita is close to 11 percent. This figure matters because it gives a more accurate idea of the size of the downturn. It is also necessary to take into account the two years, since our interest should be now to try to figure out how long the recession will be the endure, that is, when will Mexico reach the pre-pandemic level of GDP.
The Mexican Economy: A Short or Long Recession Cycle? ipsnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipsnews.net Daily Mail and Mail on Sunday newspapers.