Indicators
Mexico’s Economic Growth Undershoots Forecasts as Woes Mount
- Quarterly growth was 0.2% April-June; estimate was 0.4%
- Economists see slowdown in coming months and into 2025
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Mexico’s economic growth unexpectedly slowed in the second quarter compared to the previous three-month period, as double-digit interest rates cooled demand.
Gross domestic product expanded 0.2% in the three months through June, matching the lowest forecast in a Bloomberg survey of economists that had a 0.4% median estimate. From a year ago, GDP grew 2.2% in the quarter, less than the 2.4% median projection, according to preliminary data published Tuesday by Mexico’s national statistics institute.