Fitch steps up estimated growth for Mexico

Fitch Ratings increased its growth rate expectations for Mexico, to a 2.3% in 2017 and 2.4% in 2018, compared to the estimated rates for June this year, of 2.0 and 2.2%, respectively. In the meantime, the real inter-annual growth rate of the Gross Domestic Product (GDP) during the April-June period, decelerated to 1.8%, down from the first quarter’s 2.8%. In a seasonally-adjusted basis value, it accelerated to 3.0%, from a prior 2.6%. The qualifying authority explained that the primary engine for growth was the private consumption, aided by a reduced unemployment rate and high trust from consumers, which was reflected in the offer with intensive increase in employment in the services sector.