GDP growth in Mexico recorded a moderate yet sustained expansion in recent years, which implied a gradual narrowing of a negative output gap. As of the first quarter of 2017, a combination of indicators suggests an output gap around zero.
However, to a significant extent as a result of the shocks that the economy has faced, and especially the uncertainty resulting from the future economic relationship with the United States, the economy is showing signs of deceleration, although to a lesser extent than originally foreseen. Consequently, it is anticipated that the output gap will fall again into negative territory in coming months.