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The first Q4 estimations from the Mexican economy are missing the targets and some doubts loom in the future, according to BNP Paribas.

Key quotes

“According to the first estimates, economic activity contracted for the third quarter in a row in Q4 (-0.3% y/y).”

“Real GDP growth should pick up in 2020 (+0.6%), but remains under its potential (estimated at 2.5% by the IMF).” 

“The risk of a loss of control of the public finances is growing: against a background of low growth, maintaining the austerity program proposed by the government will prove more difficult in the coming years.”