Mexico's economic crisis has "touched bottom" and recent indicators have shown "signs of stability," the Finance Ministry said on Sunday, Xinhua reported.
The country's employment will show month-on-month growth during the rest of this year, although it will continue to decline year on year, the ministry said in its weekly economic report.
The report was released five days after Mexico's National Statistics and Geography Agency reported that the nation's gross domestic product (GDP) shrank 10.3 percent in the second quarter from a year earlier, better than consensus forecast of 10.8 percent to 11 percent.
The report attributed the economic slump to the national shutdown ordered by the government to check the spread of the A/H1N1 flu that has killed at least 160 people in Mexico and nearly 1,800 worldwide.
"If we could eliminate the flu impact on economic activity, the variation in GDP would probably not have been negative in quarter-on-quarter terms," the ministry said.
Formal employment has risen in two consecutive months, or by 34,000 jobs in total, said the ministry, adding that the auto production rose by 35 percent in July and overall exports jumped 10.8 percent in June.
Based on these figures, the ministry was forecasting net economic growth in the second half of this year.
Mexico's recession has "touched bottom:" Finance Ministry
