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Trade Balance Data Due, Banxico’s Heath Speaks

MEXICO
  • Friday’s data indicated that the Mexican economy expanded 0.9% in Q3 from the previous three months, slightly below the 1% growth outlined in preliminary data but in line with expectations. The figure was supported by exports to the US and a recovery in the domestic services sector.
    • Banxico Deputy governor Jonathan Heath took to twitter to say that If Mexico’s national statistics agency doesn’t revise data from previous quarters, 2022 GDP growth would be 3.2% with 0.5% growth in Q4. He also stated that with no growth in Q4, 2022 GDP growth would be 3.05%.
  • Mexico’s trade deficit is expected to have widened to $2.75b in October from $895m in the previous month, according to analysts surveyed by Bloomberg. Data released at 1200GMT/0700ET.
  • Banxico’s Heath speaks at a book presentation in Mexico City (1800 local).
  • The central bank will publish the Quarterly Inflation Report on Nov 30.
  • In local news, tens of thousands of Mexicans walked through the streets Sunday to show their support for President Andrés Manuel López Obrador amid some pushback to his political agenda in recent weeks. (NYT)

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