Macro Analysis /
Global

Mexico: 2Q21 GDP –Revised lower as COVID-19 may have impacted late in the period

  • GDP rose 1.5% q/q (+19.6% y/y), 7bps lower vs. the preliminary print, although still higher than the +1.1% from 1Q21

  • Both IP (+0.3% q/q) and services (+2.0%) were revised to the downside, with agricultural an inch higher (+0.8%)

  • We maintain our full-year GDP forecast at 6.2%, with modest risks to the downside after the release of the report

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
25 August 2021
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