After 2013’s slowdown, when an estimated 1.2% GDP growth took place, consensus is that the economy will accelerate to 3.4%, as a result of increased external demand following the U.S. recovery, a higher government expending and improved domestic demand.
According to the State of Nuevo León Industrial Chamber’s Perspectives study, the city of Monterrey’s manufacturing sector will experience an upturn, leaving behind the weak growth of the previous year. Manufacturing production is expected to grow 3.5% in 2014, above the national economy’s average.
Nuevo Leon’s overall economy will continue outperforming the national average and is expected to reach a 4.5% GDP growth rate in 2014.
An example of a sector that will boost regional economic growth is the automotive industry. Mexico’s auto industry is a leading economic engine, contributing to over 20% of the national manufacturing industry’s GDP.
Source : Cushman & Wakefield