“The result would be favorable and driven mainly by the strength of external demand,” Banorte financial group said. “However, in our opinion, the outlook has deteriorated over time, suffering greater external shocks, as well as a moderation in domestic momentum.”
At a year-on-year rate, the GDP would have expanded by 1.4% in the quarter, also below the 1.8% in original figures for the previous period, according to the survey. Even so, it would string five quarters in a row in growth, although the prospects for the future are not encouraging.
“We expect activity to slow down during the rest of 2022, giving cumulative GDP growth of 1.5% for 2022,” Citibanamex analysts commented.
The national statistics institute, Inegi, will release on Friday the timely estimate of GDP during the second quarter of 2022. Similarly, this Monday the Inegi released the data of economic activity for the month of May , when a monthly decrease of 0.2% was reported. In addition, a larger contraction is expected for May, of 0.4%.
With information from Reuters.
