GDP n.s.a. y/y (MXN) comes in at 2.2% against 0.4% consensus

Mexico’s unadjusted annual Gross Domestic Product (GDP n.s.a. y/y) for the latest period was reported at 2.2%. This outcome significantly surpassed the market consensus expectation of 0.4%, indicating a substantial positive surprise. The actual print registered a 450.0% surprise relative to the consensus forecast. This compares to the previous period’s reading, which stood at 0.2%.

The USDMXN currency pair reacted to the data, moving -51 pips five minutes after the release. By the fifteen-minute mark following the publication, USDMXN was trading +2.3 pips from its level just prior to the announcement. Historical data for this specific series does not yet include measured reaction statistics, therefore typical market behavior for this release cannot be compared at this time.