Glimmers of Recovery, Amid Public Distrust

MEXICO - Report 02 Jul 2014 by Mauricio González, Guillermo Valdes, Esteban Manteca and Ernesto Cervera
Executive Summary Recent economic news was mixed, and in some cases surprising. One of the most encouraging reports was the April GDP proxy, which showed an unexpected 1.2% m/m activity increase, and a rise of 2.9% from April 2013. This latter result was the most positive in 16 months. We expect more restrained growth going forward, given the behavior of the leading index of economic activity. That was up 0.03 points in April, although many other indicators pointed to weakness, including a sharp contraction in construction, and continuing erosion of consumer and business sentiment. Sentimen...

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