Mexico Stability Holds Growth Lags

Mexico maintains strong macro stability and small deficits, but faces a structural 'productivity crisis' that has stunted growth.

Key Takeaways

• 1.Macro stability remains a key asset with no clear imbalances, though growth has been persistently weak due to productivity constraints.
• 2.The current administration has prioritized growth, but if weakness persists, it could lead to fiscal imbalances over time.
• 3.Mexico faces a structural productivity crisis, with total factor productivity declining significantly since 2018 relative to the US.

Table of Contents

• Key takeaways
• Mexico – Stability holds, growth lags
• The growth challenge
• Stability is an asset
• Special Disclosures
• Disclosures
• Research Analysts

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