Publications

The BBVA Research Big Data Consumption Indicator reported a (-)1.3% MoM drop in July, due to the slowdown in the goods segment (-2.3% MoM) and the stagnation of the services component (0.1% MoM).

Reliable statistics are essential to guide economic and social development. Their value rests on principles such as impartiality and transparency, which sustain public trust. Institutional changes and recent cases highlight the need to protect technical independence and methodological accuracy for useful, credible data.

The absence of new language suggesting increased caution—despite recent core inflation stickiness—indicates that most members remain open to continuing the easing cycle, albeit at the current more gradual pace of 25 bps per meeting.

We present a summary and analysis of the most relevant developments and publications in Mexico's financial regulatory landscape.

Lingering challenges for the growth outlook should maintain Banxico’s confidence that monetary policy can (and should) continue to ease. We think Banxico will remain confident in further services disinflation ahead and will proceed with a 25bp rate cut this week.

The Historical Balance of Public Sector Borrowing Requirements (HBPSBR) was 51.3% of GDP at the end of 2024. We expect the HBPSBR to be 52.6% at year-end with a public deficit and PSBR of 3.8% and 4.3% of GDP, respectively.

Economic activity increased by 0.7% quarter-on-quarter in 2Q25 (BBVA: 0.6%, consensus: 0.4%), driven by the industrial sector (0.8%) and the tertiary sector (0.7%).

This press release aims to argue why the adoption of digital payments by MSMEs in Mexico could serve as an essential strategy for achieving greater financial inclusion among the population.