Macro Analysis /
Global

Mexico: IP – Notable rebound in July amid a challenging backdrop

  • IP rose 1.1% m/m (+7.3% y/y) in July. While the result is high, it only recovers losses of the previous two months

  • Inside, manufacturing (1.4%) and construction (0.6%) were higher, while mining declined further (-0.3%)

  • While we expect IP to end stronger in the second half of the year, risks remain tilted to the downside

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
10 September 2021
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