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The automotive sector once again had an outstanding performance among the different sectors of the economy despite the adverse local macroeconomic context that led to a significant increase in commercial debt with its headquarters. We expect 2024 to be a year with mixed results.

In this release of our Regional Sectoral Outlook is set apart by the change of base year in August 2023 with an updated perspective of the sectoral and regional composition of the Mexican economy. During 2024, the GDP of Finance could grow the most (5.3%), followed by Management (5.3%) and Entertainment & Recreation (4.5%)

The recovery in private consumption is losing momentum, dropping from an annual 5.9% in the 2021-2022 biennium to 2.0% in 2023-2024. The increase in financing costs counteracts the modest rise in income, net financial wealth, and household expe…

Economic growth through 2023 will be modest and driven by services. A drop in the secondary sector (mainly via Manufacturing) is anticipated due to the slowdown in the economy. Tourist entities lead growth.

There are indications that the Green New Deal is beginning to directly impact the reconversion of production and energy in the United States. There are signs that Mexico is benefiting despite not having a policy that supports this productive tr…

The automotive sector has had an outstanding performance in 2022 despite the challenging context it faced due to shortages of imported inputs, global logistics problems and union conflicts. We expect domestic market sales in 2023 to be similar to those of 2022.

Economic growth in 2023 will be modest and driven by services. A drop in the secondary sector (mainly via Manufacturing) is anticipated due to the general slowdown of the economy. Industrial and tourist entities recover first.

Private consumption is mainly responsible for the slowdown in economic growth. The loss of consumer purchasing power, the rise in the cost of financing, the upturn in uncertainty and supply restrictions are conditioning the recovery in househol…

The automobile sector offers a useful overview of many of the general trends that we are seeing in the economy. First of all, it provides a good example of the impact that society's changing preferences are having and, secondly, it demonstrates…

GDP advanced 4.8% in 2021, 8 states recovered to pre-pandemic levels. Administrative, Support and Financial Services sectors stall while Manufacturing, Wholesale/Retail and Transportation sectors accelerate.

The automotive industry was one of the hardest hit sectors in 2020, but one of the strongest rebounding sectors in 2021. However, the shortage of dollars in the economy limits the possibilities of a sustained expansion of the sector. We estimate that a similar number of vehicles will be sold in 2022 as in 2021.

Sluggish purchases of durable goods have constrained the recovery of private consumption in 2021. The increase in household income, a more subdued inflation, the unwinding of excess savings and the boost from NGEU funds will push spending up to around 5.5% in 2022.