Mexico’s economy slowed in 3rd quarter

MEXICO CITY (AP) — Mexico’s economy slowed in the third quarter, posting a slight contraction compared to the previous three months, though it was still well above the same quarter a year earlier. Data released Thursday by the National Institute of Statistics and Geography showed Mexico experienced a 0.4% quarterly contraction. The director of Moody’s Analytics Latin America noted the effects of a surge of COVID-19 infections in August, supply-chain disruptions and a new law in Mexico aimed at eliminating outsourcing as among the factors responsible. Mexico President Andrés Manuel López Obrador urged the public to “view calmly” the effects of the slowdown.