AMLO dodges recession but growth grinds to a halt in Mexico

• Mexico’s economy narrowly missed falling into recession in the second quarter, surprising most analysts, while posting growth well short of the pace pledged by President Andres Manuel Lopez Obrador.
• GDP rose 0.1% quarter over quarter, better than all but one forecast by economists in a Bloomberg survey, according to preliminary data published Wednesday by the country’s statistics institute. However, on an annual basis it contracted a more-than-expected 0.7%, the most since 2009. The final figures are due out Aug. 23.
• Bloomberg analysts are projecting Mexican growth of 1.0% this year, the slowest since the 2009 recession. Oviedo is even more pessimistic, estimating growth of 0.5% for the full year.

(Source: Bloomberg)