Moody's says Mexican economy won't reach pre-pandemic levels until at least 2023

Moody's Investors Service said in a report on Thursday that Mexico will not reach its pre-pandemic economic output levels of 2019 until at least 2023.

Mexico's economy was already in a slight recession in 2019 before the COVID-19 pandemic ravaged Latin America's second largest economy and dragged it into its steepest recession since the Great Depression of the 1930s.