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Mexico second quarter GDP falls 17.1% qtr/qtr

Credit: REUTERS/Carlos Jasso

Mexico's gross domestic product (GDP) posted its sharpest drop on record in the second quarter, as the coronavirus pandemic pounded Latin America's second largest economy, data from the national statistics agency showed on Wednesday.

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MEXICO CITY, Aug 26 (Reuters) - Mexico's gross domestic product (GDP) posted its sharpest drop on record in the second quarter, as the coronavirus pandemic pounded Latin America's second largest economy, data from the national statistics agency showed on Wednesday.

GDP fell 17.1% in April to June, from the previous three-month period in a seasonally adjusted terms. In annual terms, the economy contracted 18.7% in the second quarter compared to a year earlier.

Measures to contain the spread of coronavirus shut factories, kept shoppers and tourists at home and upended trade.

(Reporting by Anthony Esposito and Miguel Angel Gutierrez; Editing by Andrew Heavens)

((anthony.esposito@tr.com; +5255 5282 7140;))

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