MEXICO |
Economy slows. Mexico’s economy expanded by 2% in 2017 compared with the previous year, according to the national statistics institute (Inegi). The figure is down from the 2.9% GDP growth registered in 2016 (and the lowest since 2013), reflecting a more challenging external context, particularly the renegotiation of the North American Free Trade Agreement (Nafta). The international ratings agency Moody’s reported last week that uncertainty surrounding Nafta, especially the fact that talks look like dragging on beyond Mexico’s presidential elections on 1 July, would further impact GDP growth in 2018.
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