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February 2, 2023
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The Mexican economy had a weak closing during 2022

The Mexican economy had a weak closing during 2022

The median of the forecasts of 10 analysts consulted by the agency estimated a quarterly expansion of 0.3% for the Gross Domestic Product (GDP), well below the 0.9% of the previous period, according to seasonally adjusted figures.

Even so, the second largest economy in Latin America would spin five straight quarters of growth.

Last week it was revealed that the US GDP slowed its pace of growth between October and December, although it advanced more than expected, in what could be the last quarter of strong performance before the effects of monetary tightening are felt. from the Federal Reserve.

At the interannual rate, the Mexican economy would have registered an advance of 3.4% in original figures, also less than the 4.3% of the previous period, according to the survey.

The statistics institute, INEGI, will release on Tuesday the timely estimate of GDP during the fourth quarter of 2022.

In mid-January, the Secretary of the Treasury, Rogelio Ramírez de la O, considered the performance of the Gross Domestic Product (GDP) favorable in 2022, since it had positive numbers in the four quarters that make it up.

“Mexico’s economic growth was favorable in the four quarters of last year, with the second quarter being the most dynamic, with growth rates of 1.2% and accumulated growth of around 3% of GDP,” the official said.

The Mexican economy is struggling to return to pre-pandemic levels and consolidate sustained growth: in 2020, GDP sank 8.2%, to later rebound 4.8% in 2021, so if the 3% advance is confirmed, it would still be below the pre-Covid era.

With information from Reuters



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