Mexico notches 16th straight quarter of growth despite Trump fears

7/31/2017 Financial Times

pesoIt’s the little engine that could.

Mexico’s economy continued to chug along in the second quarter, expanding quarter-on-quarter for a 16th consecutive time and confounding fears that the Trump’s administration protectionist stance would bring about a sharp slowdown.

Latin America’s second largest economy grew 0.6 per cent during the June quarter from the first three months of the year. The figure topped estimates for a 0.2 per cent growth. On a year-on-year basis, gross domestic product expanded 1.8 per cent, in line with what the market had expected.

The solid second quarter performance confirms the upward trend that analysts have been predicting. Many have been busy upgrading their 2017 growth forecasts for Mexico amid growing signs that the US will take a more pragmatic and conciliatory approach to renegotiating the Nafta trade agreement.

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