BBVA Raises Growth Forecast to 2% for 2022
- Mexican economy expected to improve in H2 2022 with a projected 2% growth, driven by increased consumption.
- However, a less favorable outlook for 2023 with projected growth of 1.6%.
The Mexican economy is expected to improve in the second half of 2022, following a strong performance in the first quarter, increased consumption, and the gradual easing of bottlenecks, particularly in the automotive sector.
According to BBVA experts, they anticipate a 2% growth in economic activity, an increase from their previous estimate of 1.2% for 2022.
However, the outlook for 2023 is less optimistic, with a projected growth of 1.6% compared to the previous 2.1%. This is due to a slowdown in various components of domestic demand, higher inflation levels, and a restrictive monetary policy.
