The Day at a Glance | December 21 2022

*Aggregate supply and demand in Mexico logged a quarterly 1.5% expansion in the 3Q22.

*US current account set a 217 billion dollar deficit in the 3Q22.

*Consumer confidence in the Eurozone improved slightly in December by setting at -22.2 points (-23.9 prev.).

*Peru orders Mexico ambassador Pablo Monroy to leave the country. 

*The explosion in the Urengoi-Pomary-Uzhhorod pipeline, one of the only two routes to supply Europe with Russian gas, raised concerns. The affected company guaranteed transportation of gas to consumers. 

*President of Ukraine, Volodymyr Zlensky, will visit Washington today. This will be his first trip outside of Ukraine since Russia`s invasion. Zlensky will meet with Biden, who will announce a security aid package for Ukraine worth 2,000 million dollars. 

*Title 42, originally scheduled to end today, will be extended for at least another week after the temporary freezing of the deadline on behalf of John Roberts, Chief Justice of the United States Supreme Court. 

Economic environment

Aggregate supply and demand. The supply of goods and services increased 1.5% in real quarterly terms during the 3Q22. In a disaggregate manner, GDP increased 0.9%; while imported goods and services logged 2.9% quarterly expansion. In annual terms, global supply increased 6.4%, which was explained by a 4.3% increase in GDP and 11.7% growth in imported goods and services. As for demand, exported goods and services increased 2.9% at a quarterly rate; the rest of the components logged marginal progress: Government consumption 0.8%; private consumption 0.4%; and gross fixed capital formation 0.1%. Annual variations in demand set at 11.5% for exported goods and services; 6.5% for private consumption; 3.9% for gross fixed capital formation and 2.3% in government consumption. With this, aggregate supply and demand increased 6.4% at an annual rate, exceeding the analyst consensus estimate of 5.5% and still showed an acceleration in growth during the second to last quarter of the year.