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MEXICO CITY — Mexico’s finance secretary Thursday said the country is in an economic recession.
“It is a fact that we are in recession,” Agustin Carstens told a group of reporters.
He said the gross domestic product could contract 4.1 percent this year, an estimate that takes into account a swine-flu epidemic that forced a nationwide shutdown of many government services and businesses.
The government has said previously that Mexico’s economy would contract this year. But it was the first time officials have said the country is already in a recession.
