Mexican second-quarter GDP revised down to show flat economy

Mexican gross domestic product (GDP) was unchanged in the second quarter from the previous three-month period, slightly weaker than a preliminary estimate published last month, data from the national statistics agency INEGI showed on Friday.

The figures showed that the economy was even closer to entering a recession in the first half of 2019 than previously stated. The initial INEGI estimate had shown the Mexican economy growing by 0.1% during the April-June period. GDP figures for the first quarter were also revised down by a tenth of a percentage point to show the economy contracted by 0.3% compared with the final quarter of 2018.

Compared to the same quarter a year earlier, Mexico's economy, Latin America's second largest, contracted by 0.8% in unadjusted terms during the April-June period.