Mexico’s Economic Growth Undershoots Forecasts as Woes Mount

From bnnbloomberg.ca

Mexico’s economic growth unexpectedly slowed in the second quarter compared to the previous three-month period, as double-digit interest rates cooled demand. Gross domestic product expanded 0.2% in the three months through June, matching the lowest forecast in a Bloomberg survey of economists that had a 0.4% median estimate. From a year ago, GDP grew 2.2% in the quarter, less than the 2.4% median projection, according to preliminary data published Tuesday by Mexico’s national statistics institute. Annual output is forecast to slow for a third straight year in 2024 and for a fourth in 2025, but increased federal ... (full story)