The Banco de México Banxico estimates, in its central scenario, that the economy will grow by 6.2% in 2021, an upward update from its previous forecast.

In May, when the country was not yet affected by the third COVID wave, the central scenario set by the Central Bank was 6%.

In its most pessimistic scenario, Banxico estimates that the "rebound" of the economy will be 5.7%, while the most optimistic scenario would see a 6.7% recovery. In the previous report the percentages ranged from 5% to 7%.

Banxico calculated that if the ‘rebound’ is 6.7%, economic activity would regain its pre-pandemic level in the last quarter of this year.

Check here: The incipient development of the last mile in Monterrey

The Central Bank explained that the revision of the interval was made based on a higher than anticipated growth of Mexico's GDP during the second quarter.

The institution stressed that despite these factors, the uncertainty about the recovery of the economy remains due to disruptions in supply chains and the increase in COVID-19 infections.

The update occurs in a situation of chiaroscuro for the economy: in the first six months of the year, the GDP linked two quarterly advances, 0.8% between January and March and 1.5% between April and June, according to data from the National Institute of Statistics and Geography (Inegi).

However, the alert appeared in June with the fall of the Global Economic Activity Index, a kind of 'monthly GDP', of 0.9%, its first setback since May 2020, when the country's economy was paralyzed by confinement decreed to reduce the spread of COVID.

Of interest: Guadalajara went from being an average market to one of the most active in the country

The key with the IGAE is that it gives an idea of the advance of GDP in the short term, so that the decline may point to an unfavorable scenario: the slowdown of the economy.

The situation is repeated in another of the pillars for the Mexican economy: exports that advanced 15.2% in July, a slowdown compared to June, when they grew 29.1%.

The biggest contraction was taken by automotive exports with a fall of 9.7%, which represent almost a third of Mexico's manufacturing exports.

In Solili  you can check the availability of industrial buildings in Mexico City

Original note