LatinNews Daily - 16 July 2026

*BBVA research, the economic research department of Spain’s BBVA bank, has released a new report highlighting that the effect of the 2026 Fifa World Cup, which Mexico co-hosted along with the US and Canada, was “limited and heterogeneous, not generating a widespread rebound”. It said that private consumption in Mexico fell 0.2% month-on-month in June, with a year-on-year contraction of 4.9% and that spending on tourism services contracted, while entertainment spending expanded. As regards tourism, BBVA Research noted sharp monthly falls of 10.5% in hotels and 4.9% in restaurants while entertainment services grew by 16.5% month-on-month, “possibly driven by the World Cup”. It also said that spending in physical stores fell 0.9% month-on-month, which it said was “the largest drop since February”. However digital consumption remains 15% above January 2025 levels, “highlighting a structural shift in household consumption habits”. The report also highlighted that gasoline spending, used as a mobility indicator, dropped by 2.5% in monthly terms in June which it said marks the 15^th consecutive drop since April 2025, with a year-on-year contraction of 5.6%. BBVA Research expects the weakness of domestic demand “to extend through the second half of 2026” and anticipates a gradual recovery for 2027, as “the industrial sector recovers and generates a spillover effect on services”.