Mexico | Credit to the non-financial private sector continues to slow down

In July 2020, the balance of current credit granted by commercial banks to private sector grew at a nominal annual rate of 4.9% (1.3% real), lower than the nominal rate observed the previous month (6.5%) and the nominal rate of 8.6% registered in the same month of 2019, reducing its dynamism for the third consecutive month.

Key points

• Key points:
• The effect of the exchange rate depreciation continues to skew the growth rate of business credit upwards
• The performance of some components of consumer credit begins to register historical lows
• Housing credit maintains its dynamism

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