Our 2025 GDP growth forecast remains at 1.9%, up from our 1.1% estimate for 2024, as we think a recovery of net exports will likely offset a slowdown in domestic demand. Our forecast for next year is now well above the consensus of 1.2%. But we acknowledge the downside risks stemming from the US elections and the deterioration of the domestic business environment.
Mexico: Downside risks to Sheinbaum's first year in office