Open Demo Account
Home / Market Update / Forex Market / Mexico’s Economy Contract by 18.7% in Q2

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).

Tags

Check Also

Oil Markets Eying Weekly Gains Following PMI Data

Crude Oil prices rebounded after a volatile Friday, driven by a surge in the US …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends