Mexican Economy Stagnates in May, Falling Short of Expected Growth

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.

This independent news site is supported by subscribers.

Trending News on PVDN

Mismaloya Residents Protest Against Forced Evictions of 80 Residents of Puerto Vallarta The coastal town of Mismaloya, in Puerto Vallarta, witnessed a peaceful demonstration on Wednesday, where residents sought justice from the President of Mexico, Andrés Manuel López Obrador, amidst a severe land dispute threatening their homes. Around 80 concerned residents assembled by the side of Federal Highway 200, earnestly awaiting updates from their representatives at the…
Notorious Criminal Edgar Salvador Casian-García Extradited to the US After Arrest in Puerto Vallarta PUERTO VALLARTA - The Mexican Attorney General's Office (FGR) recently disclosed the extradition of Edgar Salvador Casian-García to the United States, marking a significant capture of one of America's most wanted individuals after his arrest in Puerto Vallarta. Casian-García faces grave charges, including homicide, rape, and causing bodily harm. The extradition follows a horrific tale…
Tourists Discover Body of Woman in Waters Off Puerto Vallarta, You Won’t Believe What Happened Next In a heart-pounding incident on the waters off the coast of Puerto Vallarta, Mexico, horrified tourists witnessed a lifeless body floating amidst the relentless waves. The spine-chilling ordeal began when Nicole, a German native residing in Mexico, decided to indulge in an evening dip on Monday. Unknown to her, the perilous currents had other plans…
Decapitated Body Found in Puerto Vallarta Sparks Investigation PUERTO VALLARTA - In a shocking development, a decapitated body was discovered on Wednesday afternoon in the southern region of Puerto Vallarta. As of now, the identity of the individual and the cause of death remain undetermined. The local authorities were alerted to the gruesome discovery through a 911 report, prompting an immediate response from…
Health Officials Underscore Ongoing Threat of Dengue in Puerto Vallarta PUERTO VALLARTA - In a renewed call to remain vigilant against Dengue, health officials reassert their unyielding dedication to battling the vectors that contribute to the proliferation of this disease. Despite four confirmed cases in Puerto Vallarta, the risk lingers, primarily due to the persistent breeding sites for the Aedes Aegypti mosquito, the primary vector…
Health Officials in Puerto Vallarta Urge Return to Face Mask Usage as Covid-19 Cases Rise in Region PUERTO VALLARTA (PVDN) - Health officials are ringing the alarm bells as an uptick in COVID-19 cases has been recorded in the Eighth Health Region, where Puerto Vallarta is located. In response to the growing concern, the director of the VIII Health Region has recommended reinstating face mask usage in closed environments. He also emphasized…
Cartels are the Fifth Largest Employer in Mexico with 175,000 ‘Employees’ PUERTO VALLARTA (PVDN) - In a groundbreaking study unveiled this Thursday in the esteemed journal Science, researchers from the Complexity Science Hub in Vienna disclosed that drug trafficking ranks as the fifth largest employer in Mexico, engaging between 160,000 and 185,000 individuals. The study also revealed that thwarting new recruitment is crucial to diminishing the…
Puerto Vallarta Achieves Six Blue Flag Distinctions for 2023-2024 Season PUERTO VALLARTA - In a notable step toward environmental preservation, Puerto Vallarta, the picturesque beach city on the Mexican Pacific coast, proudly announces securing six Blue Flag Distinctions for the 2023-2024 season, reinforcing the region's commitment to the sustainable management of its beaches. The Blue Flag Distinction is a sought-after accolade that denotes a beach's…