Recent data reaffirms our view that Mexico's economic recovery is gaining traction, a trend we expect to build strength in the coming quarters. Mexico's IGAE Economic Activity index has averaged growth of 1.8% year-on-year (y-o-y) in the first seven months of the year, an improvement from 1.3% y-o-y during the same period in 2013. This is in line with our real GDP growth forecast of 2.6% in...
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