TEST – Tag bug report
A "For Rent" sign is displayed along a neighborhood street in Mebane, N.C., Wednesday, Feb. 10, 2021. U.S consumers have so far defied higher prices for gas, food, and rent and have been spending more in 2022, providing crucial support to the economy. How long that can continue will be one of the key factors affecting the economy and inflation this year. (AP Photo/Gerry Broome)
MEXICO CITY (AP) — Mexico’s economy grew 1% in the first three months of the year, accelerating somewhat after registering meager 0.2% growth in the previous quarter, according to seasonally adjusted data released by the government Wednesday.
Compared to the first quarter of last year, the economy grew 1.8%, according to the National Institute of Statistics and Geography.
Mexico did face some challenges during the quarter, including a spike in COVID-19 infections to start the year and rising inflation, noted Moody’s Analytics Director Alfredo Coutiño in a report. There was also the disruption caused by Russia’s invasion of Ukraine and continuing global supply shortages.
“Given the prolonged domestic weakness, the ongoing monetary tightening and the risk of a global slowdown, the economy’s performance will remain limited along 2022,” he wrote.