Flash: MXN - Emerging markets – TD Securities

FXstreet.com (London) - Research teams at TD Securities noted that January data came in strong on the heels of the sound US data at the beginning of the year.

However, they highlighted in the remainder of the quarter, weakness has filtered through in both the industry and services. Disappointing March IP last week sealed the negative outlook for Q1 GDP growth, so they now expect a lower growth rate of 1.4% Y/Y (cons 1.1%), down from 3.2% in Q4, with upside risks stemming from financial services and downsides potentially from agriculture.