LatinNews Daily - 16 September 2022

* Mexico’s central bank (Banxico) has released a report on the period April-June, stating that GDP grew by 0.92% compared with the preceding quarter in seasonally adjusted terms. The report put year-on-year growth with seasonally adjusted figures at 1.9%. However, the report flagged challenges for further economic growth, underscoring the “possible slowing of the US economy” which would have knock-on effects for exports and remittances. Additionally, Banxico noted that the US-Mexico-Canada Agreement (USMCA) is the subject of “uncertainty generated by controversies”. The report did not explicitly detail the controversies it was referencing but this likely refers to the dispute settlement consultations requested by the US and Canada over Mexico’s energy policies. The coronavirus (Covid-19) pandemic and Russia’s invasion of Ukraine were also outlined in the report as further challenges for global supply chains.

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