Banxico lowers its GDP projection for 2024 to 1.8%

by times news cr

2024-08-06 12:30:50

The Survey on Expectations of Private Sector Economics Specialists that performs the Bank of Mexicorevised downwards the growth of Gross domestic product (GDP), estimating it at 1.8% at the end of the year from the 2% anticipated in the last survey.

By 2025 the change was 1.78% a 1.61%, a lower projection while specialists placed the exchange rate at 18.78 pesos per dollar at the end of 2024, from 18.73, while for 2025 it is estimated at 19.40 from 19.36.

Analysts estimate a higher inflation general, which could close this year at 4.58%, from 4.23% estimated in the previous survey.

A slight upward adjustment was also observed for 2025, from 3.76% to 3.83%, and for core inflation, analysts moderated their estimates downwards. For 2024, from 4.01% to 3.97% and for 2025, from 3.78% to 3.71%.

Analysts place the target rate at 10.50% at the end of 2024, from 10.25% estimated in the previous survey. By 2025, the forecasts increased to 8.50% from 8.25%. Lower economic growth is forecast.

According to the country’s economic analysts, the factors that can slow down growth are Governance (58%), Internal conditions (16%).

2024-08-06 12:30:50

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