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Mexico’s Economy Contract by 18.7% in Q2

M. Ali 26 August, 2020 10:04 pm Forex Market, Market Update

The Mexican economy has recorded its worst drop on record during the second quarter of 2020, due to the impact of the COVID-19 pandemic.

Mexico’s gross domestic product (GDP) contracted by 17.1% on a quarterly basis during Q2 and by 18.7% on an annual basis.

Mexican GDP is expected to contract by as more than 10% in 2020.

The Mexican Peso (MXN) is currently trading higher by 0.25% against the US Dollar (USD).

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