The Mexican economy avoided the slowdown and grew in the second quarter of 2022 more than expected by the market consensus. With figures adjusted for seasonality, the results of the timely estimate of the Gross Domestic Product (GDP) show a quarterly increase of 1% in real terms, reported the National Institute of Statistics and Geography (INEGI).

The consensus expected GDP to grow between 0.8% and 1% quarterly and 1.5% annually.

At a quarterly rate, the opportune PIN of tertiary activities advanced 1% and that of secondary and primary activities grew 0.9% in the second quarter of 2022. In comparison, the United States economy contracted 0.9% in the second quarter of 2022.

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However, the Timely Estimate could change with respect to the figures generated for the traditional quarterly GDP, which will be published on August 25, 2022.

In turn, the Monex Financial Group indicated that unlike what was seen in the United States, the Mexican economy went through a good time, as it grew 0.98% quarterly compared to the 0.8% expected by the consensus.

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With this figure, the Mexican economy grew almost 2% per year during the first half of 2022 and although the remainder of the year will see contractions, the total figure for 2022 would widely exceed the consensus estimate of 1.8%, which justifies the upward revisions that have been made. recently, such as those of the International Monetary Fund.

Commerce, tourism and industry had some of their best performances in recording this figure. Even in the face of these results, the outlook remains unfavorable, since GDP is still 2.1% below pre-crisis levels and expectations for next year do not encourage them to exceed it again, Monex noted.

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