Mexico

Mexico: 1Q22 GDP – Back on the growth trend, but with risks ahead

  • Activity rose 0.9% q/q (1.6% y/y), overcoming the economic weakness seen in the second half of last year

  • Sequentially, services rebounded while industry was resilient, both at +1.1%. Primary activities fell 1.9%

  • We reiterate our 2022 GDP forecast at 2.1%, expecting a sequential deceleration in 2Q22

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Alejandro Padilla Santana @ Banorte
Contributors
April 29th, 2022
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