Mexican economic growth likely to have slowed in Q2 2017

The Mexican economy has been expanding at an uninspired pace in the past few years. In recent quarters, primary sector and the tertiary sector have been mainly driving the real GDP growth. On the contrary, growth in the secondary sector (manufacturing, mining and construction) has generally been subdued, although manufacturing output has accelerated in recent months. The rebound in manufacturing production in Mexico is due partly to strength in auto exports.

The consensus forecasts looks for some payback in the year-on-year real GDP growth rate in the second quarter from the relative strength that was seen in the first quarter. Consensus expects the real GDP growth to have come in at 1.9 percent, as compared with the 2.8 percent registered in the prior quarter.

However, most analysts expect the Mexican economy to gradually pick up momentum in the quarters ahead as global GDP growth continues to strengthen, stated Wells Fargo in a research report.

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