Macro Analysis /
Global

Mexico: Mixed domestic demand in August, suggesting challenges for the recovery

  • GFI rebounded 1.1% m/m in August (+13.9% y/y), with additional strength in construction driving the figure higher

  • Consumption fell 0.6% m/m (+10.1% y/y), with generalized weakness, albeit dragged the most by imported goods

  • Considering a quite adverse outlook in the very short-term, we expect the recovery to resume in 4Q21

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
8 November 2021
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