GDP Firmed a Bit in Third Quarter

MEXICO - Report 25 Nov 2014 by Mauricio González and Ernesto Cervera
Executive Summary Late last week the National Statistics Office (Inegi) released its report on third quarter GDP showing that the economy had grown 2.2% above levels of a year earlier. In response to the soft patch the Mexican economy experienced in August, when the monthly GDP proxy (IGAE) grew a mere 1.2% on a 12-month basis, private sector analysts began once again to lower their growth estimates for the year. Last week, Banco de México followed suit and lowered its GDP growth range for 2014 from 2.0%-2.8% since mid August to between 2.0%- 2.5%; the mid range point was scaled back from 2...

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