Mexico’s economy posted a record contraction in April, official data showed on Friday, as the effects of the coronavirus lockdown devastated economic activity, particularly in manufacturing.
Adjusted for seasonal swings, Latin America’s second-biggest economy contracted 17.3% from March, the biggest fall since modern data began being published in early 1993, according to figures put out by national statistics agency INEGI.
The decline, however, was not as sharp as the 19.4% drop forecast by a Reuters poll of economists.
In unadjusted terms, the economy shrank 19.9% in April . . .
