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Mexico’s economy remains on pause

Mexico’s economy remains on pause

octubre 31, 2019

Through the results produced by el Instituto Nacional de Estadística y Geografía (INEGI) regarding the Gross Domestic Product, CAINTRA finds important challenges to potentiate the economy of Mexico, which at the moment remains paused.

According with the INEGI, the Mexican economy fell .4% in the third quarter at an annual rate, which broke a chain of 38 consecutive positive quarters (that is, since the fourth quarter of 2009), while comparing it to the same quarter of the last year, the national economy showed a rise of .1%, being mainly motivated by primary activities. We can say that in the absence of substantial growth movements, the Mexican economy remains paused.

The weakness in the performance of Mexico's economy in 2019 has led international organizations to cut their growth forecast for 2019 several times; Therefore, la Cámara de la Industria de Transformación de Nuevo León, request the federal government to generate incentives to encourage investment, increase confidence and increase public investment, in a way that can trigger a greater dynamism to the economy that achieves reverse this trend.

We will maintain collaboration with the authority to generate programs that motivate productivity, economic growth and improved certification for investment and job creation, in turn, we will be attentive to the final data of the Gross Domestic Product of the third quarter, which should be published on November 25.

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