MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Friday the economy is doing “very well”, despite preliminary data showing 0.1% growth in the third quarter from the previous period when Mexico narrowly avoided recession.
Lopez Obrador told his regular news conference that “there is no recession”. He added that growth was weak because his government was no longer “spending to spend.”
The leftist took office in December, pledging to ramp up economic growth to an average of 4% per year.
Reporting by Daina Beth Solomon; Editing by Mark Heinrich