Mexico Economic Outlook
May 14, 2019First-quarter growth fell short of market analysts’ expectations, on the heels of upbeat recent data for January and February. A supply-side breakdown of the first quarter confirmed softness in the industrial sector, which struggled—alongside its stateside counterpart—to find its footing through March. Moreover, output within the services sector slowed considerably despite strong wage growth and resilient consumer confidence. Nevertheless, Mexico’s economy is probably not as weak as preliminary national accounts suggest, given the difficulty of seasonally-adjusting for the Easter holiday. Moreover available second-quarter indicators hint at an upturn. Consumer confidence remained within reach of its all-time high in April, boding well for household spending. Survey-based indicators also suggest that manufacturing could be headed for a turnaround in April, which would boost investment and exports.
Mexico Economic GrowthPolicy uncertainty in light of the new left-leaning government and flagging oil-sector output are seen weighing on economic activity this year, but steady household spending should limit the downturn. Hold-ups to ratifying the USMCA, coupled with a possible slowdown in the U.S., also cloud the outlook, as does an oil and gas-starved fiscal deficit. Met the why particular analysts see growth at 1.7% this year, which is unchanged from last month’s forecast. Next year, analysts see growth at 1.9%.
Mexico Economy Data
5 years of Mexico economic forecasts for more than 30 economic indicators.
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|Bond Yield||8.12||-0.24 %||May 13|
|Exchange Rate||19.22||-0.29 %||May 13|
|Stock Market||43,142||0.12 %||May 13|
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Mexico Economic News
May 16, 2019
At its 16 May monetary policy meeting, Banxico’s governing board unanimously voted to leave the target for the overnight interbank interest rate at 8.25%, matching market analysts’ expectations.
May 9, 2019
Consumer prices increased 0.05% from a month earlier in April, easing from the 0.39% month-on-month increase in March.
May 8, 2019
Mexico’s manufacturing sector appeared to recover somewhat at the outset of the second quarter.
May 8, 2019
Consumer confidence eased further in April, with the seasonally-adjusted consumer confidence index published by the Statistical Institute (INEGI) coming in at 113.8 points, down from 115.9 in March.
May 1, 2019
Remittances inflows totaled USD 2.9 billion in March, an 8.3% increase from the USD 2.7 billion inflow recorded in the same month a year ago.