Macro Analysis /
GlobalMexico: 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
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
5 August 2022
Published byBanorte
