Macro Analysis /

Mexico: Domestic demand weakness at the end of 2Q21

  • GFI fell 1.8% in June, driven by weakness in construction (-2.9%), but with machinery and equipment also low (-0.4%)

  • Consumption declined 0.8%, in our view due to a deterioration in virus conditions, with services as the only positive

  • We expect growth of domestic demand to continue in 2H21, although at a more modest pace as people stay cautious

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

6 September 2021
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