During the first quarter of 2020, Mexico recorded a year-over-year growth rate of -2.17% registering a considerable fall when compared to the previous quarter. The Mexican economy has been registering contractions of its economic activity for four consecutive quarters, with 1Q20 being the most severe due to the impact of COVID-19. Regarding prices, inflation reached a ratio of 3.40% in 1Q20. Concerning the labor market, the unemployment rate increased up to 3.54%. The Mexican peso depreciated against the dollar, recording an average exchange rate of 20.01 MXN/USD during the first quarter of the year.
For more information click here to access the executive document in pdf (only available in Spanish).
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