Mexico Economic Outlook
June 11, 2019Mexico’s economy stumbled into the new year, tripping on a series of one-off industrial- and services-sector shocks in the first quarter. Moreover, across-the-board uncertainty hampered activity as trade-related anxieties and policy ambiguity at the outset of AMLO’s presidency rattled manufacturing and public-sector services, respectively. Second-quarter indicators, meanwhile, have fared little better. Deteriorating consumer confidence and an uptick in the unemployment rate suggest modest gains in household spending, while downbeat survey-based data point to the further pullback of fixed investment and shakier export growth. On 7 June, U.S. President Donald Trump suspended the so-called immigration tariffs that were set to be levied on Mexican imports as of 11 June. The damage had already been done, however; two of the three credit-rating agencies issued warnings amid mounting concerns over state-owned Pemex and aggravated downside risks to growth.
Mexico Economic GrowthU.S. tariffs, if imposed, would devastate the economy. Moreover, the unfolding diplomatic crisis has already shaken USMCA-related certainty and frightened investors. Policy uncertainty in light of AMLO’s nascent presidency and flagging oil and gas output, meanwhile, are also expected to weigh on growth this year. Amid unraveling Mexico-U.S. trade relations, Met the why particular analysts lowered their growth forecasts in June. As such, they now see growth at 1.5% this year, which is down 0.2 percentage points from May’s forecast, and at 1.8% in 2020.
Mexico Economy Data
5 years of Mexico economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.67||-0.24 %||Jun 13|
|Exchange Rate||19.20||-0.29 %||Jun 13|
|Stock Market||43,483||0.12 %||Jun 13|
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Mexico Economic News
June 11, 2019
Mexico and the United States reached a tenuous agreement on 7 June to avoid crippling U.S.-imposed tariffs on all Mexican imports that had been set to take effect only days later.
June 7, 2019
Consumer prices declined 0.29% from a month earlier in May, contrasting the 0.05% month-on-month increase in April.
June 4, 2019
Consumer confidence fell again in May, with the seasonally-adjusted consumer confidence index published by the Statistical Institute (INEGI) coming in at 111.0 points, down from 112.8 points in April.
June 3, 2019
Economic activity remained lackluster in March.
June 3, 2019
Remittances totaled USD 2.9 billion in April (March: USD 2.9 billion), a 3.6% increase from the same month a year ago (March: +7.8% year-on-year).