Mexican economy to grow in 2019
According to statistics from the finance consultant Focus Economics, the healthy production of factories in the United States will encourage the exports of Mexican manufacturing, while a renegotiate NAFTA successfully will probably protect the fixed investment growth in the country.
Analysts from Focus Economics expect a growth of 2.2 % in 2018 that has not changed regarding the calculation of the previous month. For 2019, analysts see a growth slightly accelerating to 2.3 %.
The Mexican manufacturing sector ended the first half of the year with a high note. On one hand, the seasonally adjusted manufacture indicator produced by the Mexican Institute of Financial Executives (IMEF, by its Spanish initials) increased 1.3 points in June, reaching its maximum in the last three months, achieving 52.6 points since a review of 51.4 points reported on May.
According to the outlook of the consensus from Focus Economics, the industrial production in Mexico will increase 1.4 % in 2018; the value has not changed since last month projection. The analyst survey panel by the financial anticipates an expansion of industrial production of 2.0 % in 2019.
On the other hand, surveyed experts that participated in the “Latin Focus Consensus Forecasts” from June, expect that the private consumption grows a 2.7 % in 2018 and for 2019 the panel sees the private consumption extending to a 2.6 %.
Experts also highlighted that after the elections in Mexico, the approach of the winning candidate with private investment has dissipated in much some economic speculations; therefore more stability is expected in the country’s economy, although they will continue working in important aspects such as the renegotiation of the Free Trade Agreement.
In the case of Nuevo Leon, during 2017 exports from the maquila industry exceeded 24 billion dollars, about 9 % more than the national average and it is anticipated that by the end of 2018 a similar figure is reached in the entity.