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Mexico’s economic activity was resilient in Q3, but this is in stark contrast to survey data.
Manufacturing and services activity are showing early signs of fatigue; 2023 will be difficult.
The current account slid to 1.6% of GDP, but FDI saved the day; we expect a gradual correction in H1.
current account, economic activity, fdi, manufacturing, services activity, survey, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence