By Anthony Harrup
MEXICO CITY--The Mexican economy suffered in 2020 its sharpest contraction in nearly nine decades despite a second-half recovery from shutdowns to contain the coronavirus pandemic that had brought many industries and services to a near standstill early in the year.
Gross domestic product, a measure of output in goods and services, fell 8.3% from 2019, the National Statistics Institute said Friday. It was the biggest decline in output since 1932 during the Great Depression, and followed a 0.1% contraction in 2019.
The rebound that began in the third quarter continued in the fourth, with GDP in the October-December period up 3.1% in seasonally adjusted terms from the preceding quarter. Industrial production rose 3.3%, and services were up 3% from the third quarter.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
01-29-21 0738ET
