The latest survey data out of Mexico have been woeful and, while high-frequency hard data suggest that activity hasn’t fared as badly as might have been feared, the bigger picture is that the economy is very weak. This is likely to weigh heavily on central bankers’ minds and means that Banxico is likely to press ahead with another 50bp cut, to 8.50%, at its meeting on Thursday.
Our new Global Trade Stress Monitor tracks the key stages of the world trade cycle in real time in order to identify the effects of tariffs.
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