Thursday, February 2, 2023

Banksico assures that the recession in the US may affect the growth of the Mexican GDP

Bank of Mexico (Banxico) has assured a recession in the economy of America Could hinder Mexican gross domestic product (GDP) growth

This occurs in a context in which 80% of Mexican exports are American Federationwhose economy grew 3.2% in the third quarterAccording to official figures.

The growth rate is expected to exceed the forecast of 2.9%, yet the market fears a slowdown by 2023 that will result in a recession. Steps taken by the Fed.

“If our neighbor slows down or hits a recession, it will be difficult for us to grow”Jonathan Heath, the deputy governor of Banksico, confirmed via his Twitter account.

GDP data favors spending, says expert for the third quarter of the yearWhich INEGI announced yesterday Wednesday, are important for understanding the performance of the economy.

“All GDP components The third quarter increased compared to the previous quarter, except for public investment which fell -1.0%. However, exports were the only component with a significant increase (2.9%) and that basically explains Good 3Q PerformanceHeath explained.

“The robust export growth, combined with little progress in other components of GDP in the third quarter, underscores our reliance on GDP activity. USA will have good growth in 2023, If our neighbor slows down or hits a recession, it will be difficult for us to grow”, he said.

Photo: Darkroom

Nation World News Desk
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