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Mexico & Nafta - February 2014 (ISSN 1741-444X)
Results ‘as expected’ in 2013, great expectations for 2014
Real annual GDP growth came in at 1.5% in the fourth quarter, according to Mexico’s finance ministry (SHCP), boosted by the US recovery, where industrial production jumped 6.8% in the final quarter, its best result since mid-2010. The SHCP also noted “the relatively more stable” behaviour of international financial markets in the latter half of the year, despite some continued incidents of volatility surrounding the US Federal Reserve’s to-ing and fro-ing before it finally announced, on 18 December the definitive beginning of the end (or ‘tapering’) of quantitative easing. By then, the move had been priced in by the markets, with the US dollar strengthening against most emerging market currencies as global capital flew back towards the greenback.
