{"id":116747,"date":"2021-06-18T19:43:33","date_gmt":"2021-06-18T19:43:33","guid":{"rendered":"https:\/\/fin2me.com\/?p=116747"},"modified":"2021-06-18T19:43:33","modified_gmt":"2021-06-18T19:43:33","slug":"mexicos-president-sees-faster-return-to-pre-pandemic-economy","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/","title":{"rendered":"Mexico's president sees faster return to pre-pandemic economy"},"content":{"rendered":"

MEXICO CITY (Reuters) -Mexico\u2019s President Andres Manuel Lopez Obrador said on Friday he expects that by the third quarter the Mexican economy will reach pre-pandemic levels, after gross domestic product contracted by some 8.5% last year driven by pandemic-related fallout.<\/p>

Mexican President Andres Manuel Lopez Obrador gestures during a news conference at the National Palace in Mexico City, Mexico June 15, 2021. REUTERS\/Luis Cortes<\/figcaption>

The president\u2019s faith in a faster rebound is more optimistic than the central bank\u2019s latest forecasts.<\/p>\n

\u201cWithout a doubt, by the third quarter of this year we will already be (at the levels) we were at before the pandemic,\u201d Lopez Obrador told a news conference.<\/p>\n

Mexico\u2019s economy grew 24.8% in May compared with the same month last year, as a recovery from a slump made worse by the coronavirus pandemic gathered pace, a preliminary estimate published by national statistics agency INEGI showed on Thursday.<\/p>\n

If the preliminary estimate is confirmed, May\u2019s activity was only about 0.4% behind the level reached in February 2020, the last full month before pandemic restrictions began to hit the economy, according to an index compiled by INEGI.<\/p>\n

A continued, yet gradual, easing of coronavirus-related restrictions that began in late January has helped Mexico\u2019s economy, said Marcos Casarin, chief LatAm economist for Oxford Economics.<\/p>\n

\u201cThe reopening of the tourism sector, which could add a substantial 15% of GDP in Mexico, has also happened sooner than we expected, which has helped to revive the struggling services sector,\u201d Casarin added.<\/p>\n

But according to Mexico\u2019s central bank, only if economic growth this year can approach 7% will the economy recover to its pre-pandemic level from the end of 2019, and not until the fourth quarter of this year.<\/p>\n

The bank added that if 2021 growth comes in closer to 6%, recovery to the pre-pandemic level would likely be delayed until the second quarter of 2022 or even later.<\/p>\n

Goldman Sachs economist Alberto Ramos forecast Mexico\u2019s GDP growth would firm to 6.0% in 2021, \u201cwith risk skewed towards a higher print.\u201d<\/p>\n

Ramos based his forecast on the strong performance of the economy in fourth quarter, additional expansion in the first quarter and expectations for a \u201cgradual but steady progress on the COVID vaccination front and strong external demand for the remainder of 2021.\u201d<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MEXICO CITY (Reuters) -Mexico\u2019s President Andres Manuel Lopez Obrador said on Friday he expects that by the third quarter the Mexican economy will reach pre-pandemic […]<\/p>\n","protected":false},"author":3,"featured_media":116746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nMexico's president sees faster return to pre-pandemic economy - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mexico's president sees faster return to pre-pandemic economy - Fin2me\" \/>\n<meta property=\"og:description\" content=\"MEXICO CITY (Reuters) -Mexico\u2019s President Andres Manuel Lopez Obrador said on Friday he expects that by the third quarter the Mexican economy will reach pre-pandemic [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-18T19:43:33+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/06\/Mexicos-president-sees-faster-return-to-pre-pandemic-economy.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/\",\"url\":\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/\",\"name\":\"Mexico's president sees faster return to pre-pandemic economy - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-06-18T19:43:33+00:00\",\"dateModified\":\"2021-06-18T19:43:33+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Mexico's president sees faster return to pre-pandemic economy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mexico's president sees faster return to pre-pandemic economy - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/","og_locale":"en_US","og_type":"article","og_title":"Mexico's president sees faster return to pre-pandemic economy - Fin2me","og_description":"MEXICO CITY (Reuters) -Mexico\u2019s President Andres Manuel Lopez Obrador said on Friday he expects that by the third quarter the Mexican economy will reach pre-pandemic [...]","og_url":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/","og_site_name":"Fin2me","article_published_time":"2021-06-18T19:43:33+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/06\/Mexicos-president-sees-faster-return-to-pre-pandemic-economy.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/","url":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/","name":"Mexico's president sees faster return to pre-pandemic economy - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-06-18T19:43:33+00:00","dateModified":"2021-06-18T19:43:33+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/mexicos-president-sees-faster-return-to-pre-pandemic-economy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Mexico's president sees faster return to pre-pandemic economy"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/116747"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=116747"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/116747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/116746"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=116747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=116747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=116747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}