BMI View: The Mexican economy will improve significantly in 2015, following sluggish growth in the lastcouple of years. We forecast real GDP growth of 3.5% in 2015, up from a projected 2.1% in 2014 and 1.4%in 2013. Lower oil prices will contribute to a stronger US consumer, resulting in greater demand forMexican manufactured goods exports. Mexico's manufacturing sector accounts for over 17.0% of GDP andis a main generator of employment. As a result, more favourable labour market dynamics, combined withthe diminishing effect of tax hikes on consumer goods that were implemented in January 2014, will lead tosignificantly stronger household spending in 2015.
Headline Industry Data (local currency)
2015 per capita food consumption = +3.5%; CAGR forecast 2014 to 2019 = +4.5%