Date: January 28, 2022
News Author(s): Miguel Gutierrez and Gabriel Burin
Photo Credit: Reuters
Source: investing.com
MEXICO CITY (Reuters) - Mexico's economy likely contracted in the last three months of 2021, in what would mark a second straight quarter of negative growth and put Latin America's second-largest economy in a technical recession, a Reuters survey showed on Friday. Gross domestic product (GDP) is expected to have shrunk in the fourth quarter by 0.3% from the previous three-month period in seasonally adjusted terms, according to the median forecast of a poll of 11 analysts.
The economy shrunk by 0.4% in the third quarter.
The poll forecast the economy expanded by 5.1% in 2021, after shrinking by 8.5% in the previous year in what was its worst recession since the Great Depression of the 1930s.
The poll forecast GDP growth of 1.9% for 2022. Analysts cited various factors to explain a fourth-quarter drop, including the spillover effects from a contraction in the third quarter, the ongoing fallout from the pandemic, reduced consumption due to higher inflation, bottlenecks in global supply chains and domestic policy decisions that have impacted private investment. "A heterogeneous and disorderly recovery was characteristic for all of 2021. In different sectors you saw contractions followed by growth and then followed by contractions," said Jesus Lopez, analyst at bank Banco Base.
Lopez said that performance will likely be repeated in the first quarter. In unadjusted terms, GDP is expected to have grown 1.6% on a year-on-year basis in the fourth quarter, according to the survey. Mexico's national statistics agency is due on Monday to publish the preliminary estimate for fourth-quarter GDP. Final GDP data will be published on Feb. 25.
Keywords: sterlinghousetrust.com, Sterling House Trust, SHT
Sterling House Trust is a private trust with a difference. It offers its members an exclusive and reliable platform to access unique opportunities and lifestyle services reserved for the select few. With its team of professional managers Sterling House Trust constantly scans the markets and collaborate with reliable global partners to create a portfolio of carefully curated programmes for its members. Members can access these programmes according to their individual needs, interest and financial capacity. Sterling House Trust is headquartered in Auckland, New Zealand, and has operations based in London, UK.
The Sterling House Trust platform was established with the objective of providing its members, secure access to opportunities across a range of global locations, sectors and services.
Our unique Platform was established within the framework of a trust so that the trust would have oversight and governance over the range of services and its quality. Member protection is a core principle and drive in all that we do. Our trustees ensures that the interests and quality of service provided by the Platform are always maintained at the highest standards.
The trust and its trustees provide robust oversight and is constantly on the move to identify and shortlist select opportunities in the international markets. Likewise, we apply the same stringent standards in identifying and selecting providers and professional partners to join our Platform.
The Sterling House Trust Platform utilises our international footfall and relationships to provide our members with access to a range of international opportunities via our global network which covers a broad range of sectors including:
Asset protection, international property ownership and management, alternative and direct ownership, estate planning, banking services, foreign exchange, card services, alternative investment and lifestyle services.
New Zealand Head Office
31/335 Lincoln Road,
Addington
Christchurch
New Zealand
London Office
14-16 Dowgate Hill,
London,
England EC4R 2SU
