Mexico Economic Outlook
May 15, 2018
Economic activity regained its footing in the first quarter following an anemic second half of the year in 2017. An early estimate showed a jump in quarter-on-quarter growth at the outset of the year on broad-based gains across sectors. Separate data suggests that consumption dynamics improved in the quarter, with a fall in the unemployment rate, solid remittance inflows and easing inflationary pressures all pointing to a turnaround in household spending. Although manufacturing output ticked up in March after trailing strong manufacturing-exports data for months, survey data from the manufacturing sector was soft in April. Furthermore, construction activity appears to be getting a boost from pre-election public spending. Meanwhile, a busy political agenda has chilled economic sentiment; left-wing candidate Andrés Manuel López Obrador has been comfortably leading most polls ahead of the 1 July general elections. His likely victory has spooked the business community and weakened the peso, and it could throw a wrench into the final stages of NAFTA renegotiation talks.Mexico Economic Growth
Ebbing inflationary pressures, tighter domestic and U.S. labor markets and firmer credit growth should support household spending this year. Manufacturing exports are expected to benefit from healthy factory output in the U.S., while a successful rewriting of NAFTA would likely boost fixed investment. FocusEconomics analysts expect growth of 2.2% in 2018, which is unchanged from last month’s estimate. For 2019, analysts see growth accelerating slightly to 2.3%.Mexico Economy Data
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Mexico Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 7.80 | -0.24 % | May 21 |
| Exchange Rate | 19.82 | -0.29 % | May 21 |
| Stock Market | 45,305 | 0.12 % | May 21 |
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Mexico Economic News
Mexico: Banxico stands pat in May, keeping the policy rate at 7.50%
May 17, 2018
At its 17 May monetary policy meeting, Banxico’s five-member board voted unanimously to maintain the policy rate steady at 7.50% after pausing its hiking cycle at the previous meeting in April, a move widely in line with market expectations.
Mexico: Inflation eases in April
May 9, 2018
Consumer prices fell 0.34% from the previous month in April, contrasting the 0.32% rise recorded in March and marking the biggest monthly drop in nearly two years.
Mexico: Pre-election jitters hold back consumer confidence gains in April
May 7, 2018
Consumer sentiment rose more than expected in April as strengthening economic fundamentals appeared to foster an improved outlook among survey participants.
Mexico: Remittance inflows ease somewhat in March
May 2, 2018
Remittances totaled USD 2.6 billion in March, a 4.0% increase in year-on-year terms and below the 6.9% rise recorded in February.
Mexico: Year-on-year GDP growth slows on calendar effect in Q1; quarter-on-quarter data unexpectedly upbeat
April 30, 2018
Despite seasonal effects obscuring the full picture of the economy, a resilient external sector and stronger consumption dynamics appear to have fueled solid economic growth at the outset of the year.
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