Macro Analysis /
Global

Mexico: Signals of domestic demand resilience in October

  • GFI was unchanged in October at 0.0% m/m (+6.5% y/y), with weakness in construction offset by M&Eq.

  • Consumption rose 0.2% m/m (+5.7% y/y), with small changes in domestic categories but imported goods surging

  • We expect domestic demand to have regained some dynamism in 4Q21, contributing to a recovery in activity

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 January 2022
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