MexECON Blog

Government Says GDP to Grow 3.5 Percent in 2013

Mexico's Ministry of Economy and Public Credit has reiterated its forecast that the country's gross domestic product (GDP) will grow 3.5% in 2013.  According to Secretary Luis Videgaray Caso, the government also continues to believe that consumer prices will rise 3.0% during the year.

Comment:  Mexican GDP jumped 5.3% in 2010, as the country began to recover from the global financial crisis.  However, growth began to moderate as the economic cycle matured and as headwinds from abroad began to have a greater impact.  GDP growth slowed to 3.9% in both 2011 and 2012.  The government's current forecast is consistent with continued moderation.  It is also consistent with recent third-party forecasts.  For example, the International Monetary Fund also currently projects that Mexican GDP will grow 3.5% in 2013.  Despite the ongoing moderation, economic output in Mexico continues to grow faster than its historical average.  Mexican GDP grew at an average annual rate of just 2.6% in the twenty years from 1991 to 2011.

Patrick Fearon, CFA
Vice President, Fund Management

0 comment(s) for “Government Says GDP to Grow 3.5 Percent in 2013”

    Leave a Comment

    Name:
    Website:
    Comment:

    Archive