PUERTO VALLARTA (PVDN) - The Mexican economy showed no growth in May, stagnating at a 0 percent variation compared to the previous month, according to data from the Global Indicator of Economic Activity (IGAE). This outcome fell significantly short of the 0.4 percent growth that had been projected by the Institute through its Timely Indicator of Economic Activity (IOAE).
Andres Abadia, Chief Economist for Latin America at Pantheon Macroeconomics, identified several contributing factors to the slowed economic performance, including higher real interest rates, less favorable external conditions, and a weakened labor market.
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