Real GDP growth is expected to reach 2.6% in 2023 and fall to 2.1% in 2024. Consumption will be supported by the improvement in the labor market, but will be held back by high inflation. Investments will benefit from the easing of bottlenecks in global value chains and the relocation of manufacturing activity to Mexico. Export growth will be held back by the US economic slowdown. Inflation will fall to 5.9% in 2023 and 3.7% in 2024.
