Citibanamex once again raised its economic growth projection for this year, from 1.4 to 1.5 percent.

The adjustment occurred after the National Institute of Statistics and Geography (Inegi) announced that the economy accelerated its growth to 1 percent in the third quarter.

With today’s positive surprise, we now estimate that accumulated growth in all of 2024 will be 1.5 percentindicated the Citibanamex analysis area.

The financial institution indicated that the national economy slowed significantly between the last quarter of last year and the second quarter of 2024, but it rebounded more than expected in the third.

He explained that the surprise increase is related to a significant recovery in the primary sector and the fact that consumption and investment performed better than expected. possibly in part due to lagged effects of the increase in public spending in the first semester.

Signs of resilience

Monex analysts specified that the results of the third quarter show signs of resilience of the Mexican economyafter the weakness observed at the end of 2023 deepened and was expected to affect the figures for the second quarter of 2024.

We do not rule out a possible downward revision in the estimate of growth in secondary and tertiary activities due to less momentum in manufacturing, sharp falls in construction and sluggish consumption (retail sales). For now, our GDP growth estimate for 2024 stands at 1.5 percent.

Ve por Más specialists specified that the GDP exhibited its highest quarterly growth since the end of 2021. Although the figures revealed today were favorably surprising, it is difficult for activity to maintain the pace at the end of the year. For this reason, we decided to maintain our specific GDP growth forecast for 2024 at 1.3 percent. Private consumption will still find support in the strength of the labor market and growth in wageshighlighted.

Overall, Mexico’s economy posted better-than-expected growth in the third quarter, driven primarily by the primary sectorIntercam economists considered.

For their part, Banorte analysts warned that “after the acceleration, the challenges in the following quarters will gain relevance… The headwinds for the economy are becoming more present, both external and internal. Even climatological factors could have an important influence.”

By Editor

One thought on “Citibanamex raises its forecast for 2024”
  1. In search of cost-effective solutions for training | Friday Night Fansite
    Where can I find pharmacology that won't let me down? – NGames
    Arwen-Undomiel.com • View topic – Steroid buying experience: where to look for bargains?
    How to choose steroids for effective workouts? | tuft + paw
    Durovis – Dive Board
    where to get steroids at an affordable price? – Support – CSS Image Gallery – Extensions – DMXzone.COM
    Throughout my 10 years of training, I have tried many supple | IYFUSA Group | IYFUSA
    R/C Tech Forums – How not to overpay for steroids?
    SrananComForum – A Bravenet.com Forum
    Quality steroids without hitting the budget | ZenCleanz
    AMZ Forums
    I am looking for steroids for serious training – Party.biz
    CodiMD – Collaborative markdown notes
    injectable-steroids for sale | Vipon
    Where to buy steroids for a serious athlete? – Prime Community Forum
    Recommend steroids for bodybuilding at a reasonable price – Rhythm Gaming World
    MinecraftBB: Re: Where to get steroids to avoid overpaying?
    Help with choosing steroids for a beginner bodybuilder – Keyclone | SolidICE
    Need to buy steroids: advice from the experienced is welcome – StyleZeitgeist
    Gaming platform in India | MartviewForum
    Gaming platform in India – NerdyElectronics Forum
    Social media for business Addonface find friends and do business platform
    Online casino India | MLM Diary
    Safe Weight Loss Help? | Noria Message Boards
    my own | Struggling with Stubborn Fat | GoOpenMichigan
    Weight Loss Tips? – DIS-COURSE
    Safe and Effective Weight Loss? | ZIGGYMOTO
    If you’re on a timeline, I totally get why you’d be looking | Norman Fenton Group | Norman Fenton
    Forum – Semaglutide success stories? – RushCard

Leave a Reply