Inflation eases in Mexico and the United Kingdom, while trade tensions with the United States rise. 

Week of March 24 to 28 

Global markets in motion: Uncertainty in the U.S., recovery in Europe, challenges in China, and monetary adjustments in Mexico. 

• United States 
  Analysts expect S&P 500 earnings to grow 7.7% year-over-year in Q1 2025, the slowest pace since Q3 2023. Trump announced a 25% tariff on all cars manufactured outside the country. Consumer confidence fell amid inflation fears. Q4 2024 GDP was revised upward, showing an annualized growth of 2.4%, driven by consumption. 

• Europe 
  Economic activity advanced at its fastest pace in seven months, led by the manufacturing sector. In the United Kingdom, inflation slowed to 2.8% year-over-year, better than expected. 

• China 
  In response to rising tariffs, Premier Li Qiang called for opening global markets. Industrial profits fell 0.3% year-over-year as of February. 

• Brazil 
  The government considers that conditions may arise to begin interest rate cuts in the second half of the year. 

• Mexico 
  Inflation in the first half of March moderated to 3.67% year-over-year. In line with expectations, the Bank of Mexico cut the benchmark rate by 50 basis points, bringing it to 9%. 

Staying informed will help you better understand the current macroeconomic context. 

Important events in the coming weeks 

• April 01: In the United States, the ISM Manufacturing Index will be released. 
• April 04: In the United States, employment figures will be published. 

Monitor