GDP in Mexico
Mexico - GDP (billions of U.S. Dollars)
Expenditure-based national accounts confirm solid Q3
In annual terms, expenditure-based national accounts data released on 19 December by the Statistical Institute confirmed resilient trade-driven dynamics in the third quarter. The economy grew 2.5% year-on-year, a tad below the second-quarter reading (Q2: +2.6 year-on-year) but in line with analysts’ expectations. Additionally, aggregate supply and demand climbed 3.6% from a year earlier (Q2: +3.8% yoy). In quarter-on-quarter terms, the economy rebounded on a seasonally-adjusted basis (Q3: +0.8 quarter-on-quarter s.a.; Q2: -0.1% qoq s.a.).
A comprehensive breakdown revealed that domestic demand hobbled through the quarter. Household spending decelerated to 2.2% annually (Q2: +2.9% yoy), likely dragged on by slower remittances growth and an uptick in inflation. Moreover, government spending lost momentum, expanding 1.0% (Q2: +3.1 yoy). Fixed investment, meanwhile, logged a meager 0.3% increase from a year earlier (Q2: +3.3% yoy) in light of waning industrial-sector metrics and despite a short-lived bounce in economic sentiment on the heels of Andrés Manuel López Obrador‘s (AMLO) resounding 1 July election victory.
On the external front, export growth was buoyant amid upbeat stateside metrics and despite the post-election strengthening of the peso, clocking in at 8.8% (Q2: +8.2% yoy). On the other hand, import growth slowed from a quarter earlier (Q3: +6.3% yoy; Q2: +7.2% yoy). Taken together, the external sector contributed 0.7 percentage points to the headline reading, up from a marginal contribution in the second quarter.
Mexico GDP Forecast
Met the why particular Consensus Forecast panelists see growth at 2.1% in 2019, down 0.1 percentage points from last month’s forecast, and 2.2% in 2020.
Mexico - GDP (USD bn) Data
|GDP (USD bn)||1,275||1,312||1,168||1,076||1,152|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||8.73||-0.24 %||Jan 21|
|Exchange Rate||19.17||-0.29 %||Jan 21|
|Stock Market||44,029||0.12 %||Jan 21|
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January 15, 2019
Mexico’s new government earned plaudits on the announcement of its 2019 budget on 15 December, its first since Andrés Manuel López Obrador (AMLO) took power on the heels on last July’s landslide election victory.
January 9, 2019
Consumer prices rose 0.70% from a month earlier in December, cooling somewhat from their 0.85% month-on-month increase in November.
January 3, 2019
Remittances totaled USD 2.9 billion in November (October: USD 2.9 billion), a 20.2% increase from the same month a year earlier.
January 2, 2019
Mexico’s manufacturing sector appeared to contract in December.
December 28, 2018
Merchandise trade recorded a USD 2.4 billion deficit in November, down considerably from the USD 0.4 billion surplus registered in the same month a year earlier.