The HSBC financial institution estimated that in 2025 the Mexican economy will grow 1.3%, which although it will imply a slowdown, because in 2024 the growth is expected to be greater, it will reflect that despite the uncertainty generated by the possible policies of President Donald Trump and its effects on the nation, will also realize that the “floor” is a bit more solid.
“The structural opportunity that we are living not only for Mexico, but also for the region, is quite large. In recent years we have been seeing a global regionalization process, which makes North America stand out in a very important way, ”said the economist in chief of the Financial Group, José Carlos Sánchez.
He stressed that, with data from 2023, the United States, Mexico and Canada import one of every five products that are imported globally.
“It is clearly a region with a potential for important consumption and that, obviously, opens the doors so that there can be greater production, that there may be trade and that is what makes us constructive towards the medium and long term,” he said during his Participation in the “85 Annual General Assembly of the American Society. 100 days of government ”.
However, he acknowledged, there is a fairly particular situation that is preceded by the beginning of a process of renegotiation of the treaty between Mexico, the United States and Canada (TMEC) that although it is positive, will have its phases of uncertainty and we will have to wait for announcements of possible Tariff rates to Mexican imports by the Donald Trump government.
“But we believe that what has been showing the Mexican economy points to a relatively stronger floor of growth. In HSBC we are estimating a growth of 1.3%, which estimates a moderation or a deceleration with respect to the dynamism we had been seeing in past years, ”said Juan Carlos Sánchez.
However, he stressed that in Mexico, private consumption and exports are increasing positive rates.
“From the financial sector, what we have been seeing is that the placement of credit continues to grow at a two -digit pace, in a quite healthy way, whether we see it from the point of view of consumer credit, from the point of credit business, from the point of view of mortgages. We believe they could stay in that rhythm, probably more moderate, but I think that is a good sign, ”he added.
In his opinion, when observing other indices, such as the compliance with the credits, a fairly healthy financial system is still seen, “this is how we see it, constructive in the medium and long term, with the opportunity that is not only for Mexico , but for the region, probably this year with a natural uncertainty factor due to the situation of renegotiation (of the TMEC), but with anchors that seem to be more solid than had a while ago, ”he emphasized.
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