Macro Analysis /

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

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


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