Growth Firming Up

MEXICO - Report 07 Apr 2015 by Mauricio Gonzalez, Guillermo Valdes, Esteban Manteca and Ernesto Cervera
Executive Summary The past month has produced further evidence of economic momentum and future growth potential, while also revealing unexpected weaknesses.Since September, the monthly GDP proxy (IGAE) shows the economy growing at its natural pace of 2.5% to 3% of GDP. January’s report extended that trend, with 2.6%. There were also signs of continuing strength in the internal market, as Mexico’s retail association reported that store sales were up by a real 5.5% in February. Monetary authorities also stemmed the peso’s slide, via stepped-up dollar auctions that began in mid-March, and have...

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