Macro Analysis /
Global

Mexico: 3Q21 GDP – Slight contraction, but the recovery will continue

  • GDP in 3Q21 fell 0.2% q/q (+4.6% y/y), dragged by services despite an increase in industry

  • This result suggests an impact from the pandemic, along other challenges like the global supply chain crunch

  • Considering the decline, we revise our full-year estimate to 5.7% from 6.2% previously

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Contributors
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Banorte
30 October 2021
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