Mexico Economic Outlook
bet360备用网址February 18, 2020Preliminary figures revealed that GDP declined yet again on annual basis in the final quarter of 2019—leading to the first full-year economic slump since the 2009 crisis. Industrial-sector output contracted for the fifth quarter running, primarily due to the hammered construction and mining sectors, dragging down overall activity. Moreover, agricultural production cooled in the quarter and although activity in the services sector quickened, the increase was underwhelming, which alludes to softer-than-expected growth in household spending. Turning to 2020, available data suggests a gradually improving scenario. The manufacturing PMI rose in January, albeit remained in contractionary territory. Meanwhile, the services PMI returned to growth for the first time in nine months, which, coupled with strengthening consumer confidence, bodes well for consumption gaining traction.
Mexico Economic GrowthThe economy is expected to recover this year on the back of stronger consumer spending, buttressed by rising real wages and upbeat remittances. Increased effectiveness in executing public spending and investment should also support growth. Depressed business confidence, an uncertain global trade environment and the finances of debt-laden Pemex weigh on the outlook, however. FocusEconomics panelists estimate growth of 0.9% in 2020, which is down 0.1 percentage points from last month’s forecast, and 1.7% in 2021.
Mexico Economy Data
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|Bond Yield||6.87||-0.24 %||Dec 31|
|Exchange Rate||18.93||-0.29 %||Jan 01|
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Mexico Economic News
March 16, 2020
The Mexican peso plummeted against the U.S. dollar in the first half of March amid the collapse of international oil prices and market fears over the ongoing spread of coronavirus globally.
March 9, 2020
Consumer prices rose 0.42% from the previous month in February, following the 0.48% month-on-month increase logged in January.
March 5, 2020
Consumer confidence softened in February, with the seasonally-adjusted consumer confidence indicator published by the Statistical Institute (INEGI) coming in at 43.9, slightly below January’s revised 44.1 reading (previously reported: 44.2).
March 2, 2020
Remittances totaled USD 2.6 billion in the first month of the year (December 2019: USD 3.1 billion), representing a 5.2% increase from the same month in 2019 and following the 3.0% rise logged in December 2019.
March 2, 2020
The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) ticked down to 49.1 in February from 49.3 in January, signaling a slightly stronger contraction of the manufacturing sector.