Provisional GDP figures show that Mexico’s economy grew by a stronger-than-expected 1.0% q/q in Q2 and we have nudged up our forecast for GDP growth this year to 2.3% (from 1.8% previously). Even so, the big picture is that weakness in the US and tight policy at home will weigh on growth over the coming quarters and Mexico’s recovery will continue to lag behind those in the rest of Latin America.
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