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By components, spending on goods fell (-)1.4%, while spending on services fell (-)1.0%; the slowdown in retail sales is consistent with the lower dynamism that formal employment has shown in recent months, given the deceleration in the industrial sector

This report examines the trends in U.S. development aid, focusing on the share allocated to Latin America and the Caribbean. It also analyzes how resources have been directed towards environmental issues, comparing the approaches of Presidents Trump and Biden.

The Historical Balance of Public Sector Borrowing Requirements (HBPSBR) was 47.2% of GDP at the end of the first semester. We anticipate that this balance will be 50.8% by year-end.

Falling interest rates, the gradual recovery in the eurozone and a more positive demographic outlook are expected to boost residential demand, which in a context of relatively limited housing production will lead to house price growth in the cu…

The indebtedness of the private sector remains below that of peer countries, though signs of deterioration in NPL ratios started to be seen. Banks’ FC liquid assets are solid enough to cover their ST external debt. FC credit evolution and swap …

There is still no clear indication of a severe slowdown in the labor market, though it has weakened more than it initially appears. The slower rate of job creation, coupled with frequent downward adjustments to monthly employment figures, suggests a labor market that remains robust but not excessively tight.

Formal employment in Mexico continues decelerating, growing 2.2% in May 2024, 0.2 percentage points lower than the previous month. Job creation is expected to pick up in the third quarter but at a slower pace than in 2023.

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Our most recent publications

Although the Unemployment Rate (UR) increase raises concerns, it remains just 0.1 percentage points away from the Federal Reserve's long-term target, and the July figure didn't trigger the Sahm Rule due to changes in the calculation. Ongoing monitoring of the UR is necessary to assess future risks.

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  • US

Weak performance recorded in the economic activity in 2Q24, points to the higher-than-expected impact of bridge day effects. Excluding these effects, the contraction in activity becomes moderate but still higher than our expectation. We assess that the risks to our 3.5% growth forecast for 2024 start to be to the downside.

Europe and the U.S. are considering how to increase the weight of manufacturing in the production structure. Since the beginning of the pandemic, fiscal plans and tariff policies have been announced to boost or protect certain sectors.

By components, spending on goods fell (-)1.4%, while spending on services fell (-)1.0%; the slowdown in retail sales is consistent with the lower dynamism that formal employment has shown in recent months, given the deceleration in the industri…

Present fears of a delayed economic recovery persist. Although the second quarter 2024 results are expected to be better, quick decisions are needed to generate more growth in the short and medium term and take advantage of the regional and loc…

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