The Bank of Mexico (Banxico) adjusted downward the national economic growth forecast for this year and the following.
By 2023 the downward adjustmenta went from 1.8% to 1.6%, while for 2024 the new estimate is 1.8%, less than 2.1% previously planned.
He explained that for the growth of the Gross Domestic Product (GDP) for this year, he established an interval between 0.8% and 2.4%, while for next year the economy will move to a minimum growth of 0.8% and a maximum of 2.8 percent.
When releasing his Quarterly Inflation Report, he explained that the cut to GDP is due to the deterioration of economic expectations for the United Statess, especially for your industrial activity; however, it expects domestic demand to continue supporting national economic activity.
In its quarterly report October-December 2022, Banxico sees the economic future of our country as more pessimistic. He indicated that during the fourth quarter of 2022, world economic activity exhibited a moderation in its growth rate compared to the previous quarter.
It added that growth prospects indicate a slowdown in global economic activity in 2023 and a slight recovery in 2024.
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