In 3Q14 Mexico´s GDP growth rate was moderate. This fact along with a downward revision of previous quarters induced us to lower our GDP growth rate for 2014 from 2.5% to 2.1%

Summary

INEGI released the quarterly GDP growth rate (QoQ) for 3Q14, which was 0.50% seasonally adjusted (sa). This print was below BBVA´s and market´ expectations (BBVAe: 0.65% QoQ; Consensus: 0.60% QoQ). This quarterly growth rate implies an annual growth rate of 2.1%

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