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Q1 GDP Data Due At 1300BST / 0800ET

MEXICO
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  • The flash estimate for Q1 GDP will be published at 1300BST(0800ET), with analysts expecting economic output to have edged up by 0.1% over the quarter, matching a 0.1% q/q increase in Q4. In annual terms, growth is expected to have moderated to 2.3% y/y, from 2.5%. Analysts note that unfavourable calendar base effect due to the easter holidays would weigh on activity, offset to some extent by strong fiscal spending in the last two months of the quarter. The GDP data will be followed by March net outstanding loans at 1600BST and public balance figures for March.
    • 1Q GDP SA QoQ, est. 0.1%, prior 0.1%
    • 1Q GDP NSA YoY, est. 2.3%, prior 2.5%
  • Meanwhile, ruling party presidential candidate Claudia Sheinbaum will attend an event in Mexico City at 1700BST(1200ET), followed by opposition presidential candidate Xochitl Galvez who will hold a campaign event at 1900BST.
  • In other news, AMLO spoke with President Biden and agreed to work with the US to reduce the number of illegal border crossings between the two countries. The leaders asked their national teams to work together to immediately implement concrete measures to significantly reduce irregular crossings.
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  • The flash estimate for Q1 GDP will be published at 1300BST(0800ET), with analysts expecting economic output to have edged up by 0.1% over the quarter, matching a 0.1% q/q increase in Q4. In annual terms, growth is expected to have moderated to 2.3% y/y, from 2.5%. Analysts note that unfavourable calendar base effect due to the easter holidays would weigh on activity, offset to some extent by strong fiscal spending in the last two months of the quarter. The GDP data will be followed by March net outstanding loans at 1600BST and public balance figures for March.
    • 1Q GDP SA QoQ, est. 0.1%, prior 0.1%
    • 1Q GDP NSA YoY, est. 2.3%, prior 2.5%
  • Meanwhile, ruling party presidential candidate Claudia Sheinbaum will attend an event in Mexico City at 1700BST(1200ET), followed by opposition presidential candidate Xochitl Galvez who will hold a campaign event at 1900BST.
  • In other news, AMLO spoke with President Biden and agreed to work with the US to reduce the number of illegal border crossings between the two countries. The leaders asked their national teams to work together to immediately implement concrete measures to significantly reduce irregular crossings.