Gabriel Yorio González, Undersecretary of Finance and Public Credit (SHCP), assured that the Mexican economy grew 3 percent in 2022, which is above its historical average and what was forecast by analysts from brokerage firms and banks.

“In 2022, growth was above the consensus of several analysts, who more or less were reading in the middle of last year that growth was going to be between 1.6 percent and 1.8 percent,” the official said.

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"Currently we are seeing a growth that is around 2.9 percent and 3 percent with the latest information, which has been published by the Inegi," he said during the presentation of the Reports on the Economic Situation, Public Finances and Public Debt to the Fourth Quarter of 2022.

The growth of the 2022 gross domestic product rate was driven by increases in almost all economic sectors, as well as by high levels of employment and private consumption, said the Mexican economist.

"Today in Mexico there is an unusual divergence in the perception of the economy of business and investment decision makers with what some analysts have," he said.

The divergence has caused economic analysts to make further upward revisions to economic growth in 2022, Gabriel Yorio said.

Of interest: Opportunities for growth of the office market in Mexico City in 2023

“Also six months ago, the phenomenon of company relocation sounded like an abstract idea to many economic actors, even when there was already evidence of pressure on rental prices and demand for industrial parks in the industrial, manufacturing and logistics enclaves of Mexico. ”, he mentioned.

For the official, the relocation of companies in Mexico is already a reality, as it is increasing significantly and the North American bloc is expected to become one of the most integrated regions in its commercial exchange.

"Manufacturing chains will generate greater value for the manufacturing industry and employment in the North American region and in Mexico," he concluded.

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Original note