Macro Analysis /
Global

Mexico: 1Q21 GDP – We revise higher our full-year forecast to 5.9% from 5.3%

  • GDP in 1Q21 surprised slightly to the upside at -3.8% y/y (+0.4% q/q), with services stronger-than-expected

  • Considering that the GDP-proxy (IGAE) fell 5.3% y/y in Jan-Feb, today’s print implies a 1.6% m/m rebound in March

  • We revise higher our full-year 2021 GDP forecast, to 5.9% from 5.3%. In addition, we expect GDP in 2022 at 2.5%

Gabriel Casillas Olvera
Gabriel Casillas Olvera

Managing DirectorInvestor Relations Officer and Chief Economist

Contributors
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Alejandro Padilla Santana
Banorte
30 April 2021
Published byBanorte

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