Macro Analysis /
Global

Aggregate supply and demand – A positive 2Q21, but risks building ahead

  • Aggregate supply and demand expanded 1.2% q/q (+23.3% y/y), boosted by consumption (+1.9%) and exports (+2.9%)

  • Investment (+0.5%) and imports (+0.2%) were more modest, likely related to some uncertainty due to the pandemic

  • We keep our GDP forecast at 6.2%, with downside risks on possible weakness in domestic demand and issues in industry

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
20 September 2021
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