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Topic

Mexico's economy

Mexico swings to trade surplus in April, powered by record exports

Mexico swings to trade surplus in April, powered by record exports

Published 25 May, 2021 06:00pm
  • National statistics agency INEGI said that adjusted for seasonal swings, Mexico posted a $249 million trade surplus last month after logging a deficit of nearly $3.4 billion in March.
  • A breakdown of the INEGI figures showed that Mexico sold $40.3 billion worth of exports in April in adjusted terms, 0.2% higher than the previous month, which was also a record.
Mexico industrial output rises in March on utilities, manufacturing

Mexico industrial output rises in March on utilities, manufacturing

Published 12 May, 2021 06:40pm
  • Consumption of electricity, water and gas through pipelines rose 4.9% and manufacturing was up by 3%, the national statistics agency said. Mining activity, however, dipped by 3.1%.
  • Compared with the same month a year earlier, industrial output was 1.7% higher, driven by manufacturing.
Mexico inflation accelerates to highest level in over 3 years

Mexico inflation accelerates to highest level in over 3 years

Published 07 May, 2021 05:46pm
  • Inflation jumped to 6.08% in April from 4.67% in March, national statistics agency INEGI said. A Reuters poll of economists had forecast a reading of 6.01%.
  • Inflation now stands at its highest rate since December 2017. The central bank targets inflation of 3%, with a one percentage tolerance range above and below that.
Mexico's economic recovery likely ran out of gas in first quarter

Mexico's economic recovery likely ran out of gas in first quarter

Published 28 Apr, 2021 05:48pm
  • Hammered by the restrictions brought about by the pandemic, Latin America's second-largest economy shrank 8.5% in 2020, its worst performance since 1932 during the Great Depression.
  • In the first few weeks of this year, Mexican authorities placed restrictions on social movement in several parts of the country, including the capital Mexico City, to reduce the latest flare up in cases.
Mexico annual inflation rises to 6.05pc, highest since December 2017

Mexico annual inflation rises to 6.05pc, highest since December 2017

Published 22 Apr, 2021 05:57pm
  • The national statistics agency (INEGI) said consumer price inflation in the year through the first half of April rose to 6.05%, on the back of increasing energy and food, beverage and tobacco prices.
  • The figure beat the final consensus forecast of a Reuters poll of analysts for a headline reading of 5.84% and is the highest level since the 6.85% registered in the second half of December 2017.
Mexico annual inflation hits 4.67pc in March, above central bank target

Mexico annual inflation hits 4.67pc in March, above central bank target

Published 08 Apr, 2021 06:54pm
  • "The jump in Mexico's headline inflation ... was driven once again by higher fuel inflation. We think this trend has a bit further to run, but the central bank is likely to look through this and keep its policy rate at 4.00% over the coming months," said Nikhil Sanghani, Latin America economist at Capital Economics.
  • Consumer prices rose 0.83% in March, according to non-seasonally adjusted figures.
Mexico to tighten borders against COVID-19 as US plans vaccine help

Mexico to tighten borders against COVID-19 as US plans vaccine help

Published 18 Mar, 2021 10:04pm
  • Mexico has been pressing the US government for a loan of vaccines to help its drive to tackle COVID-19, and President Joe Biden is under increasing pressure to reduce a recent surge in migrants from Central America reaching the US border.
  • Mexico's Foreign Minister Marcelo Ebrard confirmed on Twitter the two countries are working on a vaccine deal and said that he would provide details of the "good news" on Friday.
Mexico to buy 22mn more doses of Chinese coronavirus vaccines

Mexico to buy 22mn more doses of Chinese coronavirus vaccines

Published 09 Mar, 2021 09:13pm
  • Ebrard said Mexico has put in an order for an additional 10 million doses of China's Sinovac COVID-19 vaccine to be delivered between May and July, on top of the 10 million already ordered, which are due to arrive between March and May.
Mexican inflation seen higher in January

Mexican inflation seen higher in January

Published 08 Feb, 2021 09:09pm
  • The median forecast of 13 analysts polled was for inflation to climb to 3.46% in January from 3.15% in December.
  • Core annual inflation was expected to register a rate of 3.82%, the survey showed.
Mexico eyes delivery of Russian Sputnik V vaccine next week

Mexico eyes delivery of Russian Sputnik V vaccine next week

Published 26 Jan, 2021 08:37pm
  • Ferrer said the finishing touches were being put on the contract for the deal, and that it could be signed on Tuesday.
  • Mexico is trying to secure as much vaccine supply as possible amid delays of some products and has said it plans to administer 7.4 million doses of Sputnik V through March.
Mexico plans to administer 7.4mn doses of Sputnik V vaccine by end-March

Mexico plans to administer 7.4mn doses of Sputnik V vaccine by end-March

Published 19 Jan, 2021 09:46pm
  • The country could start receiving supplies of the vaccine as soon as next week, according to the plan presented during President Andres Manuel Lopez Obrador's daily morning news conference.
  • Government officials say Mexico is set to purchase 12 million doses of the Russian vaccine.
Mexican economy grows 1.1pc in August from July, recovery slows

Mexican economy grows 1.1pc in August from July, recovery slows

Published 26 Oct, 2020 07:35pm
  • Latin America's second-biggest economy grew 1.1% month-on-month in seasonally adjusted terms in August.
  • The economy contracted 9.4% from August of 2019, INEGI said. That compared to the poll forecast for an 8.2% contraction.
Mexico's GDP expected to contract 17.7pc in second quarter

Mexico's GDP expected to contract 17.7pc in second quarter

Published 27 Jul, 2020 10:32pm
  • If the economy shrinks as projected, it would mark the steepest drop in Mexico's GDP since at least early 1993.
  • In April and May, much of the country's economic activity was suspended due to measures imposed by the government to confront the pandemic.
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