Mexican economy's four year expansion cut short

Mexico’s economy shrank unexpectedly in the second quarter, becoming the first quarter in the last 17 to experience contraction (release).

Mexico’s gross domestic product (GDP) fell by 0.7 per cent between April and June 2013. Analysts had expected to see a 0.2 per cent expansion following the previous quarter’s 0.5 per cent growth.

On an annual basis, GDP increased by 1.5 per cent.