During the first hours of this Thursday, November 25, the Mexican Stock Exchange (BMV) lost its first operations after the National Institute of Statistics and Geography (Inegi) announced that the Gross Domestic Product (GDP) had a decline in the third quarter of 2021, so the Mexico’s economy contracted by 0.4%.
The local economy contracted more than expected, in a session of reduced liquidity due to a holiday in the United States that will keep financial markets closed.
Informed The Truth News that the local benchmark S & P / BMV IPC index fell 0.38% to 50,663.25 points, at 9:05 a.m. local time. It should be noted that just a few days ago the Mexican Stock Exchange fell for the fifth consecutive day.
The country’s economy contracted 0.4%, affecting the BMV
I agree with you Inegi data, the country’s economy contracted between July and September by 0.4%, a figure higher than estimated, this being its first fall dince recovery from the pandemic began, after the country was hit by a third wave of COVID-19. After revealing this information, the Mexican Stock Exchange lost its first operations.
Before this fall, the country had registered four consecutive periods of quarterly growth and the worst hit of the pandemic in the economy had been registered between April and June 2020, with a collapse of 17.8%, but after this the outlook seemed encouraging, so far, that again there has been a setback in the country’s economy.
What is the economy in Mexico?
According to the Explorando México portal, the three main bases of the Mexican economy are the oil industry, remittances sent by migrants living abroad and the sightseeingThe latter being one of the sectors most affected by the COVID-19 pandemic, as several countries in the world closed their doors and canceled trips to other countries to avoid further infections, which has now also affected the Mexican Stock Exchange ( BMV).