- Mexico’s Business Confidence in September rose by 51.9, lower than August’s 53.1, its lowest reading since January 2023.
- Gross Fixed Investment in July expanded by 1.8% MoM, up from -1% contraction the previous month. From 12 months to July, it recovered from a 1.3% shrinkage and climbed 6.4%.
- Mexico’s business activity in the manufacturing sector contracted, according to S&P Global. The September Manufacturing PMI dipped from 48.50 to 47.30, highlighting the ongoing economic slowdown.
- ADP National Employment Change in September came in at 143K, up from the upwardly revised 103K the previous month and exceeding forecasts of 120K.
- According to the swaps markets, Banxico is expected to lower borrowing costs by 175 bps by the end of 2025.
- Market participants have put the odds of a 25 bps cut at 63.8%. According to the CME FedWatch Tool, the chances for a larger 50 bps cut diminished to 36.2%.
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