Economy & Business - March 2022

ECONOMIC HIGHLIGHTS

MEXICO | Private sector lowers 2022 growth forecast. On 3 March, Mexico’s central bank (Banxico) released its monthly survey of private sector economists, who have reduced their 2022 GDP growth forecast for Mexico to 2.04%, from a previous forecast of 2.27%. The survey also found that the private economists predicted inflation of 4.78% at the end of 2022, an increase on the 4.42% they predicted in last month’s survey. This follows the release of minutes from a Banxico meeting, in which the central bank’s board of directors warned of a general lowering of GDP growth forecasts and increasing of inflation forecasts for Mexico in 2022. Banxico currently forecasts GDP growth of 2.27% in 2022 and inflation of 4% at the end of 2022.

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