Markets Actual Q4 Q1 Q2 Q3 2023
Currency 19.15 19.65 19.97 20.3 20.64 21.33
Stock Market (points) 51457.55 50253 48879 47535 46233 43737
Government Bond 10Y (%) 9.01 9.25 9.36 9.48 9.6 9.85

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.90 0.4 0.2 0.4 0.6 0.5
GDP Annual Growth Rate (%) 4.30 2.3 1.7 1.3 1.4 1.5
Unemployment Rate (%) 3.30 3.9 3.8 3.8 3.7 3.7
Inflation Rate (%) 8.41 7.8 6.33 4.25 3.1 3
Inflation Rate MoM (%) 0.57 0.3 0.2 0.2 0.2 0.2
Interest Rate (%) 10.00 10.5 10.5 10.5 10.25 9.25
Balance of Trade (USD Million) -2012.00 -2150 -2188 -2225 -2262 -2300
Current Account (USD Million) -5505.00 4324 -6539 4011 4011 5800
Current Account to GDP (% of GDP) -0.40 -0.8 -0.9 -0.9 -0.9 -0.9
Government Debt to GDP (% of GDP) 49.60 49 49 50 50 50
Government Budget (% of GDP) -3.80 -3 -2.9 -2.9 -2.9 -0.5
Business Confidence (points) 49.30 49 48 50 53 51
Manufacturing PMI (points) 50.60 48 45 50 52 51
Consumer Confidence (points) 41.00 40 38 39 40 40
Retail Sales MoM (%) -0.20 0.1 0.3 0.4 0.5 0.5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 0.90 0.4 0.2 0.4 0.6 0.5
GDP Annual Growth Rate (%) 4.30 2.3 1.7 1.3 1.4 1.5
GDP (USD Billion) 1293.04 1150 1290 1290 1290 1290
GDP Constant Prices (MXN Million) 18479018.00 18258401 18334442 18461616 18737724 18532277
Gross Fixed Capital Formation (MXN Million) 3415803.00 3328103 3381341 3460208 3463624 3378025
GDP per Capita (USD) 9255.21 9440 9676 9676 9676 9676
GDP per Capita PPP (USD) 18544.71 19800 19800 19800 19800 20000
Monthly GDP YoY (%) 5.20 2 3.2 3.3 7.8 3
Full Year GDP Growth (%) 4.80 2.5 1.5 1.5 1.5 1.5
GDP Aggregate Demand QoQ (%) 2.20 0.2 0.5 0.5 0.5 0.5
GDP Aggregate Demand YoY (%) 4.80 1.5 1.9 2 1.6 2.2
GDP from Agriculture (MXN Million) 538125.51 751461 583281 639932 545659 762732
GDP from Construction (MXN Million) 1070553.00 1099721 1098567 1089675 1085541 1116217
GDP from Manufacturing (MXN Million) 3103448.00 2986336 3039917 3077056 3146896 3031132
GDP from Mining (MXN Million) 843255.00 874520 924602 875667 855061 887638
GDP from Public Administration (MXN Million) 694085.03 726949 714386 726560 703802 737853
GDP from Services (MXN Million) 11680804.87 11858399 11338303 11854288 11844336 12036275
GDP from Transport (MXN Million) 1241817.00 1211661 1188599 1296616 1259202 1229836
GDP from Utilities (MXN Million) 247685.00 271258 256182 285725 251153 275327

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 3.30 3.9 3.8 3.8 3.7 3.7
Employed Persons 57440441.00 575000000 575000000 575000000 575000000 59000000
Unemployed Persons 2040030.00 2200900 2200900 2200900 2200900 2200500
Labor Force Participation Rate (%) 59.64 59 59 60 60 60
Labour Costs (points) 107.10 140 140 140 140 145
Productivity (points) 95.70 98 98 96 96 95
Wages (MXN/Day) 479.92 475 482 489 488 485
Wages in Manufacturing (USD/Hour) 3.20 3.1 3.5 3.7 3.7 4
Minimum Wages (MXN/Day) 172.87 173 201 201 201 201
Population (Million) 126.25 126 127 127 127 127
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 96.66 96.6 96.6 97 97 97

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 8.41 7.8 6.33 4.25 3.1 3
Inflation Rate MoM (%) 0.57 0.3 0.2 0.2 0.2 0.2
Consumer Price Index CPI (points) 125.28 126 128 127 128 130
Core Consumer Prices (points) 124.01 125 127 128 129 130
Core Inflation Rate (%) 8.42 8.23 7.23 5.93 4.81 3.5
Producer Prices (points) 119.87 123 126 126 125 130
Export Prices (points) 128.89 130 130 130 130 132
Import Prices (points) 295.96 285 285 285 285 290
Mid-month Core Inflation Rate MoM (%) 0.34 0.4 0.3 0.2 0.2 0.2
Mid-month Core Inflation Rate YoY (%) 8.66 8.19 7.16 5.91 4.81 4.5
Mid-month Inflation Rate MoM (%) 0.56 0.3 0.2 0.2 0.2 0.2
Mid-month Inflation Rate YoY (%) 8.14 6.75 5.41 4.97 4.67 4
Food Inflation (%) 14.54 13.8 10 6 3.5 4.5
CPI Transportation (points) 120.65 121 121 122 122 122
Producer Prices Change (%) 7.10 8 7.5 5.5 3.9 6
Inflation Expectations (%) 5.50 3 3 3 3 3

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 10.00 10.5 10.5 10.5 10.25 9.25
Interbank Rate (%) 10.00 10.5 10.5 10.5 10.25 9.25
Money Supply M0 (MXN Million) 2492681.00 2600500 2600500 2600500 2600500 2800200
Money Supply M1 (MXN Thousand) 6414028300.00 7200000400 7200000400 7200000400 7200000400 7900200500
Money Supply M2 (MXN Thousand) 11857554926.00 11777421244 11777421244 11777421244 11777421244 12504534425
Money Supply M3 (MXN Thousand) 14045103600.00 14668419441 14668419441 14668419441 14668419441 15941567649
Foreign Exchange Reserves (USD Million) 202135.00 208173 210295 212418 214541 216663
Banks Balance Sheet (MXN Million) 10072851.00 9728631 9834592 9940553 9940553 10152476
Deposit Interest Rate (%) 3.14 4.39 4.39 4.39 4.14 3.14
Central Bank Balance Sheet (MXN Thousand) 4501664110.00 5750000000 5750000000 5750000000 5750000000 65000000000

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (USD Million) -2012.00 -2150 -2188 -2225 -2262 -2300
Current Account (USD Million) -5505.00 4324 -6539 4011 4011 5800
Current Account to GDP (% of GDP) -0.40 -0.8 -0.9 -0.9 -0.9 -0.9
Imports (USD Million) 51287.20 53580 53913 54245 54578 54911
Exports (USD Million) 49275.30 51430 51725 52020 52316 52611
External Debt (USD Million) 447827.90 460000 460000 460000 460000 445000
Foreign Direct Investment (USD Million) 7204.00 6300 6300 6300 6300 7800
Remittances (USD Million ) 15449.14 17500 17500 17500 17500 18700
Tourism Revenues (USD Thousand) 2213443.36 2650505 1967313 1986058 1986058 2202872
Tourist Arrivals (Thousand) 1630.67 2442 1893 2014 2014 2443
Gold Reserves (Tonnes) 120.04 120 120 120 120 120
Capital Flows (USD Million) -52.60 -10.9 -10.9 -10.9 -10.9 -12
Auto Exports (Thousand Units) 367.91 242 243 245 247 250
Non Oil Exports (USD Million) 49076.58 41300 41300 41300 41300 43000
Oil Exports (USD Million) 3261.46 2900 2900 2900 2900 3400

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 49.60 49 49 50 50 50
Government Budget (% of GDP) -3.80 -3 -2.9 -2.9 -2.9 -0.5
Government Budget Value (MXN Million) -59990.00 -170000 108807 108807 108807 129604
Government Spending (MXN Million) 2262174.00 2235183 2223550 2291582 2293844 2268711
Government Revenues (MXN Million) 505553.24 506915 472258 472258 472258 527567
Fiscal Expenditure (MXN Million) 606033.32 386402 363451 363451 363451 397963
Military Expenditure (USD Million) 8680.80 5800 5800 5800 5800 6100

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 9.23 9.23 9.23 9.23 9.23 9.23
Social Security Rate For Companies (%) 7.58 7.58 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.65 1.65 1.65 1.65 1.65

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) 49.30 49 48 50 53 51
Manufacturing PMI (points) 50.60 48 45 50 52 51
Industrial Production (%) 3.90 3.6 2.8 1.6 0.3 1
Industrial Production Mom (%) -0.20 -0.5 -0.3 -0.2 0.6 0.8
Manufacturing Production (%) 8.39 2 2.5 3.1 2.2 2
Capacity Utilization (%) 82.20 79 78 80 80 80
Changes in Inventories (MXN Million) 61746.00 97300 97300 97300 97300 141508
Total Vehicle Sales (Units) 36951.00 55000 55000 55000 55000 55000
Car Production (Thousand Units) 278.51 289 291 293 295 300
Car Registrations 36951.00 48000 48000 48000 48000 52000
Leading Economic Index (points) 107.20 107 108 108 108 109
Private Investment (%) 6.50 3 2 2 1 2
Mining Production (%) -1.99 0.9 1.1 1.5 1.9 2

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) 41.00 40 38 39 40 40
Retail Sales MoM (%) -0.20 0.1 0.3 0.4 0.5 0.5
Retail Sales YoY (%) 3.30 2.8 2 1.5 1.3 2
Consumer Spending (MXN Million) 12760282.00 12851259 12663690 12926166 12938926 13044028
Personal Savings (%) 19.80 21 21 21 21 21
Consumer Credit (MXN Million) 1419121.30 1365870 1382764 1437570 1438989 1386358
Gasoline Prices (USD/Liter) 1.11 1.18 1.22 1.27 1.32 1.42
Households Debt to GDP (% of GDP) 16.40 17.5 17.5 17.5 17.5 17.8

Housing Actual Q4 Q1 Q2 Q3 2023
Construction Output (%) -3.83 1 1 2.1 2.1 1.5