Mexico’s GDP is going for its sixth consecutive quarter of growth

A survey by the Reuters agency indicates that the median of the forecasts of 11 analysts estimated a quarterly expansion of only 0.8% for the Gross Domestic Product (GDP), compared to a rise of 0.5% in the fourth quarter of last year, according to seasonally adjusted official figures.

If the estimate materializes, the Mexican GDP would have linked six consecutive quarters of growth.

The advance would be led by a solid performance of services, followed by manufacturing -oriented towards exports, especially to the US market-, which would have offset a decline in agricultural activities, specialists agreed.

At an annual rate, GDP would have grown 3.3% in the first quarter, compared to a 3.6% advance in original figures for the previous period, according to the survey, spinning eight consecutive quarters of expansion.

In early April, the IMF announced that it expects the Mexican economy to grow 1.8% in 2023 after growing 3.1% in 2022. The growth outlook for the country improved by 0.1 percentage points from the previous IMF estimate.

The Inegi will release on Friday the timely estimate of GDP during the first quarter of 2023.

With information from Reuters