Note

June 26, 20 - 4:54 pm - LABS

Mexico had the biggest drop in economic activity in history: -19.8%

The COVID-19 economic crisis made the Global Indicator of Economic Activity (IGAE) shrink for an annual collapse of 19.85% in April, the largest drop on record for Mexico, according to Mexican National Institute of Statistics and Geography (Inegi). In its monthly comparison, economic activity sank 17.3%, also the biggest drop on record, Inegi’s president Julio Santaella tweeted about it:

The drop represents the lowest level since the Inegi series (1994) began. However, it was slightly lower than that estimated by market specialists, who expected an annual decrease of 20.6%, reports Milenio.