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  • Mexico’s industrial and services activity fell sharply in July, confirming fragile momentum ahead in H2.
  • Retail sales show modest resilience, but tight credit and a weakening job market weigh on consumption.
  • US support is stabilising the Argentinian peso for the moment, but structural fragilities still loom.

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Keywords for: 24 September 2025 LatAm Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence