Tax revenue was MXN 8,922 million (0.03% of GDP) below budget since the excise taxes on fuels intake was below budget despite its real annual increment of 195.1% in 1Q24.
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- Mexico
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- Country Risk
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The production of liquid hydrocarbons of Pemex Exploration and Production (PEP) in the first quarter of 2024 vs. the previous quarter showed a decrement of 36 thousand barrels a day mainly due to a lower production of superlight crude oil plus condensates by 29 thousand barrels a day.
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- Mexico
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- Energy and Commodities
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By the end of 2023, the Mexican economy grew at an annual rate of 3.2%, with an extraordinary growth of 15.6% in construction and differentiated effects at the regional level. The dynamism of services underpins growth in 2023; Wholesale and Ret…
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- Regional Analysis Mexico
- ...
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- Automotive Industry
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At the end of 2023 we find opposite results in the Real Estate market. Construction presents historical results, growth rates well above the average in different indicators. The housing market is contracting with figures as of November 2023. In…
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- Mexico
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- Regional Analysis Mexico
- ...
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- Real Estate
- Global Economy
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The employment resumes growth in April (2.5% year-on-year); this rebound in employment is explained by the negative impact of the previous month's Easter week. A change in the employment creation trend is not anticipated but rather seen as a temporary adjustment
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- Global Economy
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Spain's positive growth differential with the EU is good news, but it can be exhausted and is not enough to reduce the gap between GDP per capita and productivity, which is the only engine capable of generating sustained growth.
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- Regional Analysis Spain
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While members continued to state that “the disinflation process is expected to continue,” the stickiness of core services inflation drove Banxico to revise up its inflation forecasts after considering that “inflationary shocks are foreseen to t…
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The saving rate in Colombia transitioned from satisfactory levels to finance investment and long-term growth at the end of the first decade of this century and the beginning of the second, to a level that is among the lowest in the world and in…
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- Latin America
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- Colombia
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Foreign currency adjusted weekly credit growth decelerated to 0.5% on the week ending at May 3rd following the strong increase of 1.5% in the previous week. This is due to both commercial and consumer credits in the whole sector. Total credits’…
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