Mexico | In January 2020 bank credit growth was one digit: 5.3%

Summary

In January 2020, the nominal annual growth rate of the balance of the current credit portfolio granted by commercial banks to the non-financial private sector was 5.3% (2.0% real). This growth was slightly higher than the previous month (5.1%), but significantly below that recorded in the same month of 2019 (10.0%).

Key points

• Key points:
• The unfavorable performance of GDP, gross fixed investment and expectations, have led to lower demand for business credit
• The deterioration of economic activity and the slowdown in IMSS formal employment explain the lower dynamism of consumer credit
• In January 2020, housing credit continued to grow double-digit, but for the second consecutive month it did so at a slower pace

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