Mexican Economy Races Ahead in 2023: Robust Consumption Fuels 4% GDP Growth

July 20, 2023

The Mexican economy is set to finish 2023 on a high note, propelled by an impressive resurgence in consumer spending. According to the Timely Indicator of Economic Activity (IOAE), the Gross Domestic Product (GDP) reported a substantial growth of 4% in June, surpassing the 3.6% growth observed in May, and even outpacing the predictions by a significant margin.

This robust economic performance marks the most impressive since last October when the economy experienced a 4.8% growth spurt, says the National Institute of Statistics and Geography (Inegi).

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