Economics
Scotiabank Expects Steeper Drop for Mexico GDP, Economia Says
- Bank analysts estimate loss of 919,000 formal jobs in 2020
- Financials to fall 3.9%; hotel, transportation to post decline
Pedestrians walk past a currency exchange location in San Luis Potosi, Mexico, on April 13.
Photographer: Mauricio Palos/BloombergThis article is for subscribers only.
Mexico’s economic contraction may be deeper than expected, according to Scotiabank.
The bank now estimates Mexico’s gross domestic product to drop 8.4% in 2020, more than the 5.77% contraction it predicted on March 20, due to the increasingly adverse economic indicators, Economia Hoy newspaper reported Saturday.