The Mexican national statistics bureau INEGI reported Wednesday that the country's GDP decreased by 8.2 percent (in real terms) from January-March 2009 compared to the same period of last year, and by 5.88 percent compared to the previous quarter.
The GDP of secondary activities decreased 9.9 percent as the manufacturing industry declined 13.8 percent, and the construction industry fell 7.7 percent. Electricity, water and gas to end-users went down three percent and mining dropped 1.1 percent (all figures in relation to the first quarter of last year).
Agricultural activity was the one sector which defied the negative trend, increasing by 1.4 percent in Q1 compared to last year's Q1.
Mexico's central bank expects a decline in annual GDP between 4.3 percent and 5.3 percent, including a 0.5 percent impact from the flu outbreak.