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The minimum wage policy has been insufficient to attack the structural problems of the labor market. It has eclipsed the need to discuss more structural aspects of the economy that allow for a more robust labor market and a horizon for creating jobs with better remuneration.

Remittances have accumulated a 30-month consecutive upward streak, since May 2020. Despite their dynamism, the inflation in basic basket products (+8.4% in October 2022) and the strength of the Mexican Peso against the US dollar have stagnated the growth of remittances in real terms.

After three consecutive quarters of decline, the percentage of population living in labor poverty increased by 1.8 percentage points (from 38.3% in 2Q 2022 to 40.1% in 3Q 2022), caused by the drop in average labor income and the increase in foo…

In the middle of 2022, the Construction sector continues to grow, 0.5% above that presented in the middle of 2021, driven by Civil Works, Building continues to contract. Bank mortgage credit in 2022 with discrete growth, has taken the lead. A h…

We expect the trade balance to show lower deficits or even surpluses in some quarters of next year under a scenario of a significant slowdown of global economic growth. Moreover, nearshoring and relocation of global supply chains will continue …

The BBVA Multidimensional Manufacturing Indicator (BBVA MMI) grew 8.7% in October (YoY), 0.6 pp above the previous month (8.1%).

In 2020, there were 35,046 Baby Boomer retirement migrants residing in Mexico. More than half are from the U.S., followed by Spain and Canada, 3 out of 5 are men, 4 out of 5 are between 60 and 79 years old, more than half have bachelor's, specialty, master’s, or doctoral studies.

The BBVA Research Big Data Consumption Indicator grew 1.2% MaM in October, taking the average monthly variation of the last three months to 0.0% (vs -0.5% in September) , with real figures adjusted for seasonality.

Banxico continued following in the footsteps of the Fed and lifted the policy rate by 75bp, to 10.00%, as widely expected. Banxico will likely still match December’s Fed hike but a decouple in February seems now possible.

Given the significant increase in global oil prices and, therefore, in gasoline, the Mexican government decided not to pass on this cost to consumers by subsidizing its price.

Banxico will continue following in the footsteps of the Fed and will lift the policy rate by 75bp, to 10.00%. The main question going forward is whether Banxico will stick to its strategy of matching every additional Fed hike or will start to discuss decoupling as soon as in December

The banking system’s capital and liquidity levels remain above regulatory minima. Financing to the private sector regains its dynamism. All the portafolios that make up commercial banking credit to the non-financial private sector have achieved growth in real terms.