The median of the forecasts of eight analysts surveyed by the Reuters agency estimates an expansion of 0.9% for the Gross Domestic Product (GDP) in the reference period, a figure marginally lower than the 1% of the first three months of the current year.
“Although this growth reflects a moderation of the growth that was observed in the first quarter, they continue to be important growths,” Casa de Bolsa Finamex said.
At an annual rate, GDP would have expanded 3.5% in the quarter, also below the 3.7% in original figures for the previous period, according to the survey.
Still, it would spin nine straight quarters of growth under this comparison.
The national economy maintains a positive rhythm thanks to the strength of its US counterpart, which grew 2.4% in the second quarter of the year.
This week, the IMF also raised its growth forecast for Mexico’s GDP to 2.6% this year, from 1.9% previously estimated.
The better outlook for the Mexican economy is due to a delayed post-pandemic recovery in services that is taking hold and due to the effects of demand in the United States, explained the IMF.
This year the World Health Organization (WHO) said the coronavirus is no longer a “global health emergency.” In addition, supply chains have recovered and shipping costs and delivery times are already at pre-pandemic levels, there are still economic hurdles on the horizon, the agency added.
The Inegi will release on Monday the timely estimate of GDP during the second quarter of 2023.
With information from Reuters