GDP in Mexico
Mexico - GDP
Mexico’s economy disappoints in Q1
A preliminary estimate for growth in the first quarter revealed weaker-than-expected economic activity at the outset of the year. In annual terms, unadjusted output grew at 1.3% year-on-year—down sharply from 1.7% in the fourth quarter last year and a couple of notches below analysts’ expectations. Meanwhile, seasonally-adjusted quarter-on-quarter output contracted (Q1: -0.2% quarter-on-quarter s.a.; Q4 2018: +0.2% qoq s.a.) amid a slump in industrial-sector activity.
Following the release of several upbeat demand-side indicators for January and February, the unadjusted first-quarter figures stunned a number of analysts. A supply-side breakdown showed that, on an annual basis, industrial-sector output fell for the third time in five quarters (Q1: -0.7% year-on-year; Q4 2018: -0.9% yoy); this was also consistent with industrial-sector indicators north of the Rio Grande. Services-sector output, on the other hand, decelerated considerably (Q1: +1.9% yoy; Q4 2018: +2.7% yoy) despite strong wage growth and resilient consumer confidence; analysts have, however, suggested that the Statistical Institute’s (INEGI) seasonal-adjustment surrounding the Easter holiday requires recalibrating. Agricultural-sector output, lastly, jumped in the quarter (Q1: +5.9% yoy; Q4 2018: +3.0% yoy).
Met the why particular Consensus Forecast panelists see growth at 1.7% in 2019, down 0.1 percentage points from last month’s forecast, and at 1.9% in 2020.
Mexico - GDP Data
|Economic Growth (GDP, annual variation in %)||1.4||2.8||3.3||2.9||2.0|
5 years of economic forecasts for more than 30 economic indicators.
Mexico GDP Chart
Source: Mexico National Statistical Institute (INEGI) and Met the why particular calculations.
|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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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
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 8, 2019
Mexico’s manufacturing sector appeared to recover somewhat at the outset of the second quarter.
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.