A survey by the Reuters agency indicates that the median of the forecasts of 10 analysts projected a quarterly expansion of 0.6% for the Gross Domestic Product (GDP), a figure lower than the 0.9% of the second quarter, according to seasonally adjusted figures from the institute of statistics, INEGI.
“The estimate looks gloomy due to the influence we see from the manufacturing channel between Mexico and the United States and the unfavorable effect of the latter’s imminent economic slowdown,” said Alain Jaimes, an analyst at the Signum Research consultancy.
“Likewise, substantially higher interest rate levels make us forecast a loss of economic dynamism in Mexico, which may not occur in the third quarter, but will eventually come,” he added.
At an annual rate, the GDP would have grown by 2.8% between July and September, according to the survey, spinning six quarters in a row in expansion.
INEGI will release on Monday the opportune estimation of the GDP during the third trimester.
With information from Reuters