Mexico: Aggregate supply and demand – Strong domestic conditions in 2Q22

  • Aggregate supply and demand rose 2.2% q/q (4.8% y/y), despite increasing headwinds in the quarter

  • Imports were the main driver (5.0%) while investment (2.3%) and private consumption (1.5%) were also positive

  • We expect domestic demand to continue its favorable performance in the 2H22. We reiterate our 2022 GDP forecast at 2.1%

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