Mexico GDP Declines Less Than Forecast Amid Weak Manufacturing

Mexico's GDP contracted, but the decline was less severe than anticipated, primarily due to weakness in the manufacturing sector. This outcome may influence investor sentiment through the channel of risk appetite, as a less drastic economic downturn could alleviate fears of a sharper recession. The Mexican peso and equities, particularly those tied to manufacturing and exports, are most exposed to these developments, as they reflect the overall health of the economy. Traders will be particularly focused on upcoming manufacturing PMI data, which could provide further insights into the sector's performance and its implications for future GDP growth.

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