Overview
The upcoming week’s economic calendar in Mexico includes monthly economic activity reports, sector-wide surveys on commerce, services, and construction, inflation updates, trade balance data, and the Bank of Mexico’s monetary policy announcement. In the United States, analysts will be watching for revised GDP data from Q2 2025.
Tuesday, September 23: Economic Activity
Global Indicator of Economic Activity (July): This monthly estimation of Mexico’s GDP provides insights into the country’s economic performance, highlighting short-term trends in production, services, consumption, and exports.
- Monthly Survey of Wholesale Companies (July): This survey, conducted by INEGI, offers information on sales, employment, and wages in wholesale and retail establishments. It’s crucial for analyzing domestic trade behavior in Mexico and predicting its economic impact.
- Monthly Survey of Services (July): This survey provides detailed information on revenues, employment, and expenses in non-commercial service companies, excluding retail. It helps assess short-term trends in private sector services and anticipate their contribution to economic growth.
- Results of Government Securities Auction: The Bank of Mexico discloses the interest rates and amounts at which the Mexican government places debt with investors. These results serve as a gauge for market confidence in public finances, risk appetite, and expectations for monetary policy.
- US Manufacturing PMI (September): The manufacturing Purchasing Managers’ Index from the US gives insights into the state of the manufacturing sector.
- US Services PMI (September): The services Purchasing Managers’ Index from the US offers insights into the state of the service sector.
- US Existing Home Sales (August): This report details the sale of previously owned homes in the US.
Wednesday, September 24: Inflation
Mexico’s Inflation (First Half of September): This report measures the variation in prices for a basket of goods and services, directly influencing monetary policy, purchasing power, and interest rate expectations.
- National Survey of Construction Companies (September): This survey collects data on production, employment, and wages in construction companies. It allows for the monthly analysis of this key activity for investment and employment.
- US New Home Sales (August): This report details the sale of newly built homes in the US.
Thursday, September 25: Monetary Policy Announcement
Bank of Mexico’s Monetary Policy Decision: The Bank of Mexico will announce its policy rate decision, which sets the reference interest rate and aims to control inflation. Its decisions impact economic growth, financial stability, exchange rates, and investor expectations.
- US Q2 2025 GDP Revision: A revised report on the US’s second-quarter 2025 GDP, crucial for predicting global economic trajectories, guiding the Federal Reserve’s decisions, and influencing capital flows to emerging economies.
Friday, September 26: Trade Balance
Mexico’s Merchandise Trade Balance (August): The initial August trade balance figures will be released, showing the difference between Mexico’s exports and imports of goods. Published by INEGI, this report helps assess Mexico’s competitiveness and the impact of global trade.
- A surplus indicates a stronger position for exports, while a deficit suggests the opposite. It also reflects industrial trends.
Key Questions and Answers
- What is the Global Indicator of Economic Activity? It’s a monthly estimation of Mexico’s GDP, highlighting short-term trends in production, services, consumption, and exports.
- Why is the National Survey of Construction Companies important? It collects data on production, employment, and wages in construction companies, allowing for the analysis of this key activity for investment and employment.
- What does the US Q2 2025 GDP Revision tell us? It’s a crucial report for predicting global economic trajectories, guiding the Federal Reserve’s decisions, and influencing capital flows to emerging economies.
- How does the Mexico-US Trade Balance report impact Mexico? It assesses Mexico’s competitiveness and the influence of global trade on its economy.
