Mexico’s economy contracted at an annualized rate of 0.4% in the second quarter following the first-quarter’s growth of 4.6%, according to a Mexico Economic Update released Wednesday by the Federal Reserve Bank of Dallas. Recent data, including data on jobs, was relatively weak. Employment in the Mexican formal sector — jobs with government benefits and pensions — fell at an annualized rate of 1.4% in June. It was the first month since the 2009 recession that job growth was negative. However, the number of jobs was up 4.0% year over year. The report also noted that retail sales surged, and the peso gained strength against the dollar.