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Economic activity grew 0.2% QoQ in 1Q24, with a drop in the industrial sector (-0.4%, QoQ), and resilience of the tertiary sector (0.7%, QoQ); at an annual rate, the estimate of GDP growth indicates a variation of 2.0% for 1Q24, 1.5% for secondary activities, and 2.5% for tertiary activities.

The production of liquid hydrocarbons of Pemex Exploration and Production (PEP) in the first quarter of 2024 vs. the previous quarter showed a decrement of 36 thousand barrels a day mainly due to a lower production of superlight crude oil plus condensates by 29 thousand barrels a day.

In commemoration of International Earth Day, we present an analysis of the current water situation in Mexico. This analysis highlights the geographical, sectoral, structural, and temporary characteristics that have given rise to the current wat…

The BBVA Multidimensional Manufacturing Indicator fell (-)1.2% YoY in March (the third consecutive drop so far this year), confirming the prolonged slowdown of the sector, given the gradual slowdown in external demand for durable goods.

The average real wages of formal workers in Mexico have shown notable growth, accompanied by a significant improvement in workers' purchasing power, especially in the lowest income deciles, which indicates progress towards lower wage inequality.

Formal employment in Mexico showed null monthly variation in March 2024, reflecting a more pronounced slowdown than expected in the year's first quarter. In March, it grew below expectations, partly attributable to the effect of Easter.

The BBVA Research Big Data Consumption Indicator reported a drop of (-)1.1% MaM in March, with real figures adjusted for seasonality; by components, the greatest slowdown was recorded in the services segment (-2.0%), while the consumption of goods decreased (-)0.1%.

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

By the end of 2023, the Mexican economy grew at an annual rate of 3.2%, with an extraordinary growth of 15.6% in construction and differentiated effects at the regional level. The dynamism of services underpins growth in 2023; Wholesale and Ret…

In February 2024, the balance of traditional bank deposits (sight + term) registered a real annual growth rate of 5.8%, while the balance of the current credit portfolio granted by commercial banks to the non-financial private sector (NFPS) rec…

At the end of 2023 we find opposite results in the Real Estate market. Construction presents historical results, growth rates well above the average in different indicators. The housing market is contracting with figures as of November 2023. In both cases, we estimate that in 2024 both sectors will reverse the trends

In November 2023, remittances to Mexico had an increase of 1.2%, for the month of December it was 2.2%, during the first month of 2024 they increased by 3.1%, and the last data, which corresponds to the month of February, was of 3.7%. Thus, in the last 4 months they have averaged increases of 2.6% at an annual rate.