Moody’s credit rating agency has improved its forecast for Mexico’s GDP growth from 5.5% to 5.6% this year, in the context of the recovery driven by the revitalization of the United States.
Specifically, he indicated that strong US demand for Mexican exports will result in the Aztec country growing 5.6% this year, after contracting by 8.2% last year. In 2022, the agency expects GDP growth to reach 2.9%, up from 2.6% previously.
However, the company has indicated that these forecasts may be destroyed by domestic factors in Mexico.
“Although companies and trade integration between the two countries have synchronized the economic cycles of Mexico with those of the United States, Mexico’s GDP growth rate has been lower than that of the United States since 2017 and we expect this trend to continue.” Be warned.
This is due to the slowdown in private and government consumption and shrinking levels of investment in the Aztec country.
Moody’s noted that Mexico’s growth reflects structural problems, because although its economy is characterized by a highly productive and outward-oriented manufacturing sector, it also includes a “large” informal sector and small businesses on the margins of the formal economy and credit. Markets.
With all this, the agency expects a two-speed recovery in the country. On the other hand, there will be the bigger companies, which will have better results in the short term due to access to finance. On the other hand, you will find companies in the service sector and others that require close personal contact.