Country Economic Forecasts - Mexico

Country Economic Forecasts - Mexico

The Mexican economy ended 2021 with a mild technical recession as preliminary GDP data show a 0.1% q/q contraction in Q4. INEGI did not provide complete series but pointed to a 5% GDP rebound for the full year, below our 5.2% 2021 growth estimate, suggesting a pending revision to previous data. We now expect a 2% GDP expansion in 2022, down from 2.2% last month, as supply chain distortions and high inflation continue to weigh on our outlook.