Mexico’s economy is facing challenges in various sectors, with manufacturing and agriculture experiencing declines, according to a Reuters poll on Monday. The weak growth rate in the first quarter was primarily due to these declines, which were only partially offset by growth in services. If confirmed, this estimate would mark the 10th consecutive quarter of growth for Latin America’s second-largest economy.
The poll surveyed 10 financial institutions and showed a median estimate that the gross domestic product (GDP) grew by 0.1% in the quarter, the same rate as in the previous quarter. This growth rate is the lowest since the third quarter of 2021, according to seasonally adjusted figures. On a yearly basis, the GDP is expected to have grown by 2.1%, which is below the 2.5% growth rate registered in the previous quarter.
Overall, these data highlight that Mexico’s economy needs continued monitoring and potential policy interventions to support economic development in Mexico.
