Macro Analysis /

Mexico: Domestic demand – Setbacks in May amid weaker economic conditions

  • GFI declined 1.2% m/m (+6.2% y/y) with construction down by -2.7% and machinery and equipment more modest at -1.0%

  • Consumption fell 0.4% m/m (+7.2% y/y), dragged by domestic goods (-1.1%) and breaking with 10 consecutive months higher

  • Considering past gains, we expect less dynamism for domestic demand in 2H22, albeit continuing their recovery

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

5 August 2022
Published byBanorte


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