Mexico’s third quarter GDP growth reverses last quarter’s contraction and signals that Mexico is on track for a modest economic recovery. The business cycle does, however, remain weak, but the 3Q 2013 GDP print of 0.8% q/q indicates that economic activity has begun to recover. In line with improved external conditions, the industry and service sectors expanded, while the construction sector continued to contract. Recent approval of a higher budget deficit and improved US industrial activity points to a better Q4.
Read the full report: FX Research
Nordea