
Analysis by Region - Emerging Markets - Mexico
Description
We've raised our 2025 GDP growth forecast for Mexico by 0.4ppts to 0.6%, above the latest consensus estimate of a 0.3% expansion, due to surprisingly strong Q2 GDP. However, we've nudged our 2026 forecast down by 0.2ppts to 1.6% growth, which is still above the consensus of 1.4%. The external sectors have shown resilience to US tariffs, but we think the biggest hit is yet to come, so we still see downside risks to our short-term outlook.
Table of Contents
8 Pages
- Mexico: 2025 outlook improved on tariff resilience, but risks remain
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Risk warnings
- What to watch out for
- Exposure to key global risks
- Long-term prospects
- Alternative long-run scenarios
- Background
- Economic development
- Structure of the economy
- Balance of payments and structure of trade
- Policy
- Politics
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