The United Nations and the Mexican government both have approximately the same estimate for Mexico’s gross domestic product growth in 2011,around 3.5%. This is on top of a 5.3% growth in 2010,as reported by Morningstar.
The U.N. Economic Commission for Latin America and the Caribbean,or ECLAC,stated in a press release that “This…economic activity is sustained principally by the dynamism of exports.” In the same press release,ECLAC said that consumption and fixed investment both grew in 2010.
Mexico’s GDP per capita has risen 4.3% this year,and Mexico’s average wages were up 3.5% from a year earlier in October,up to 237.6 pesos a day,according to the National Statistics Institute,or INEGI. ECLAC added in their press release that the Bank of Mexico’s 3% inflation target should be reached by the end of 2011 if things continue the way they are now.
The Mexican Finance Industry anticipates next year’s GDP to grow 3.8%,after this year’s growth of approximately 5%. The Mexican economy is continuing to grow and become stronger,with its future looking bright.