Bank Of Mexico Forecasts 2023 GDP Growth At 3.3% From 3.0% In Previous Report
Portfolio Pulse from Benzinga Newsdesk
The Bank of Mexico has revised its 2023 GDP growth forecast to 3.3% from the previous 3.0%, according to a Reuters report citing the bank's quarterly report.
November 29, 2023 | 6:36 pm
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POSITIVE IMPACT
The iShares MSCI Mexico ETF (EWW), which tracks the investment results of a broad-based index composed of Mexican equities, may see a positive impact as the Bank of Mexico's upgraded GDP forecast suggests a stronger economic outlook for Mexico.
The Bank of Mexico's increased GDP forecast is a positive economic indicator, which typically bodes well for the country's equity markets. As EWW is directly tied to the performance of Mexican equities, the ETF is likely to benefit from investor optimism regarding Mexico's economic growth, potentially leading to an increase in its price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80