A Recovery Yet To Come

MEXICO - Report 03 Sep 2013 by Mauricio González and Ernesto Cervera
Economic Panorama The most significant piece of economic news in August was the weakness of GDP growth during the second quarter. The authorities reported that the economy expanded a mere 1.5% compared to the same April through June period of the previous year. Officials had projected that GDP had grown a full percentage point more (2.5% e) in the Ministry of Finance’s quarterly report on inflation that it released in July; the market consensus estimate was in line with that forecast. We had projected a 2.3% rate of growth for the second quarter, only slightly below official forecast. Howev...

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