Mexican economy will maintain pace at the end of 2023: analysts

Economic analysts agree that the national economy will close 2023 with dynamism, although they will be observed quarterly growth rates lower than those at the beginning of the year, the estimate is that there will be no decline in the economy.

The forecasts of the rating agency HR Ratings indicate that for the third quarter of 2023 the GDP will grow at a rate of 0.5% in quarterly termswhile for the fourth quarter growth will be 0.3 percent.

In the second half of the year we are going to grow less than what was observed in the first half, but there are no contractions… that is, there will not be a drop in the economy or in negative numbers,” commented Jessica Roldán, chief economist of Finamex. Stock Exchange House.

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For the brokerage house, the quarterly GDP forecasts point to 0.2 percent for the last part of the year. “The economy is going to be fueled by a relatively resilient consumer sector, and even by effects derived from company relocation,” said Roldán.

For its part, the Monex financial group It anticipates that the economy will grow on average 0.55 percent in the second half of the year, with a rebound of 0.6% for the third quarter and that the fourth quarter will not present variations.

STRENGTHS

The rating agency HR Ratings foresees that the The strength of the industrial and commerce and services sectors will continue towards the end of the year. He explained that the secondary or industrial sector accumulates advances in nine consecutive quarters, thanks to the continuous advance of manufacturing, especially those related to the transportation sector, as well as the manufacturing of electronic equipment.

On the other hand, highlights the construction sectorwhich has been the main growth axis of economic activity during 2023.

The construction sector has accumulated three quarters of important progress, particularly due to the growth in the first and second quarters. The above has been supported by both building works, but mainly civil engineering works, an area where the significant increase in physical budgetary investment by the federal government can be noted, giving additional stimulus to infrastructure works. and heavy works.”

To the above is added the gross formation of fixed capital, which is the investment made by companies, which showed a favorable performance in the first half of the year, driven both by investment.

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