Mexican Economy Facing Mounting Internal And External Headwinds

• Fitch Solutions have revised down its real GDP growth forecast for Mexico to 1.1% y-o-y in 2019, from 1.7% previously, as mounting trade tensions and sluggish US growth sap industrial and investment activity.
• National oil company Pemex will struggle to reverse production declines despite rising support from the administration of President Andrés Manuel López Obrador (AMLO)
• The service sector will remain the primary engine of growth, but sluggish wage growth will likely weigh on retail sales.

 (Source: Fitch)