LatAm Daily | The growth in economic activity in Mexico was higher than expected in May

Summary

IGAE grew by 1.0% sa m/m, thanks to the services sector (1.2% m/m, sa). A small (even slightly negative) growth in economic activity is expected for Mexico in 2Q16. In Brazil, the minutes of last week’s MP meeting showed concerns about inflation, which still prevent a cut of the Selic rate. Also in Brazil, the CA deficit remained stable at around 1.7% of GDP in June.

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