Mexico's economy grows by 1% in 2nd quarter
Mexico’s economy grew by 1% in the second quarter
Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
Andrew Feinberg
White House Correspondent
Mexico’s economy grew by 1% in the second quarter, Mexico’s national statistics agency said Friday.
Economic growth for the first half of 2022 now amounts to 1.9%,after an expansion of 0.9% in the first three months of the year.
The economy recovered by 5% in 2021 following a steep drop during the coronavirus pandemic.
But growth is expected to slow amid high interest rates and an economic downturn in the United States, by far Mexico’s largest trading partner.
Mexico’s central bank has raised domestic interest rates to 7.75%, buoying the peso but making credit expensive. The Mexican peso was trading Friday at around 20.30 to $1, stronger than in recent weeks.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.