The Mexican economy registered a growth of 2.2% this quarter. A rate that follows the expectations set at the beginning of the year. It is not a growth rate worthy of any celebration, but it does calm the doubts held about the Mexican economy at the end of last year.
Unemployment levels fall to levels of 3.5% and informal employment continues its downward trend. As mentioned in our previous report inflation has been high, influencing the real wages of workers.
Banxico has taken the benchmark interest rate to 7%, its highest level since 2008. However, it seems that Banxico will stop the rate hikes that started in December 2015. Inflation will close above target, but August seems to be the peak month of inflation and it is expected to start normalizing.