2Q Economic Overview

MEXICO - Report 02 Jul 2013 by Mauricio González, Ernesto Cervera and Carlos Noriega
Economic Panorama Background When the GDP results for the first quarter of the year showed a mere 0.8% expansion, expectations for the year were quickly scaled back. The Ministry of Finance lowered its full-year estimate from 3.5% to 3.1%, and most analysts made similar adjustments to their own forecasts. We at GEA had already been defending a more conservative forecast and are currently anticipating growth on the order of 2.8% for 2013. This week we offer an overview of the economic data that has been released so far for the second quarter as we assess whether we should stand by our curren...

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