Macro Analysis /
GlobalMexico: IP – Growth continues in May, driven by manufacturing
IP increased 0.1% m/m (3.3% y/y). Manufacturing rose 0.2%, while mining (-0.7%) and construction (-0.6%) were lower
Overall, activity remains limited by some supply shocks, trade disruptions and inflationary pressures
We expect the recent slowdown to be reversed in 2H22, mainly driven by manufacturing
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
12 July 2022
Published byBanorte
