Thursday December 08 2016
Mexico Inflation Rate At 2-Year High of 3.3% In November
INEGI | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Mexico increased by 3.31 percent year-on-year in November 2016, following a 3.06 percent growth in October, and in line with market expectations. It was the highest inflation rate since December 2014, boosted by cost of food, housing and transportation. On a monthly basis, prices jumped 0.78 percent.

Year-on-year, prices rose at a faster pace for food and non-alcoholic beverages (+5.07 percent vs +4.94 percent in the previous month); housing and utilities (+1.54 percent vs +1.41 percent); transport (+3.94 percent vs +3.42 percent); health (+5.1 percent vs +4.82 percent); and restaurants and hotels (+4.45 percent vs +4.35 percent).

On a monthly basis, consumer prices rose 0.78 percent, following 0.61 percent growth in the previous month.

The core index, which strips out some volatile food and energy prices, rose 3.29 percent from the previous year and 0.22 percent during the month.




Monday November 28 2016
Mexico Unemployment Rate Down to 3.7%
Joana Taborda | joana.taborda@tradingeconomics.com

The jobless rate in Mexico decreased to 3.7 percent in October of 2016 from 4.6 percent a year earlier. It is the lowest jobless rate for an October month since 2006. On a seasonally adjusted basis, it decreased to 3.6 percent from 3.9 percent in the previous month.

Compared to a year earlier, the jobless rate decreased for both men (3.7 percent from 4.3 percent) and women (3.7 percent from 5 percent). Among unemployed people, 17.5 percent had not completed secondary education, and 82.5 percent had a higher education.

Those underemployed accounted for 8.1 percent of total employed, less than 8.7 percent a year earlier. 

The participation rate fell to 59.5 percent from 60.1 percent in October of 2015.




Friday November 25 2016
Mexico Trade Gap Narrows in October
INEGI Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Mexico's trade deficit narrowed to $0.9 billion in October 2016 compared to $1.5 billion a year earlier and below market expectations of a $1.7 billion gap, as imports fell more than exports.

Exports decreased 4.4 percent to USD 35.59 billion as non-oil sales declined 4.9 percent while oil sales increased 4.4  percent. Exports of agricultural goods rose 16.5 percent and those of mining advanced 57 percent. In contrast, manufacturing sales decreased 6.1 percent, with non-automotive sales dropping 6.7 percent. Within non-oil exports, those to the US decreased 5.9 percent while those to the rest of the world increased 0.2 percent.

Imports shrank 5.9 percent to USD 33.5 billion as non-oil purchases shrank 7.3 percent while oil products jumped 11.6 percent. Imports declined for intermediate goods (-5.1 percent) and capital goods (-6.9 percent) and fell 9.4 percent for consumer goods.

On a seasonally adjusted basis, exports went down 5.3 percent and imports fell 6.4 percent.




Wednesday November 23 2016
Mexican GDP Growth Confirmed At 1% in Q3
INEGI | Yekaterina Guchshina | yekaterina@tradingeconomics.com

The Mexican economy advanced 1 percent on quarter in the third quarter of 2016, in a line with preliminary estimates, and following an upwardly revised 0.1 percent growth in the previous period. It is the strongest growth rate since the second quarter of 2014, boosted mainly by the services sector.

The services sector expanded 1.4 percent (+0.5 percent in Q2); the agriculture rose 2 percent (+1.8 percent in Q2) and industrial production rebounded 0.1 percent (-1.5 percent in Q2), according to final estimates.

Year-on-year, the economy expanded 2 percent, slowing from a 2.6 percent rise in the second quarter.




Wednesday November 23 2016
Mexican Economy Expands 2% YoY In Q3
INEGI | Yekaterina Guchshina | yekaterina@tradingeconomics.com

The GDP in Mexico advanced 2 percent year-on-year in the third quarter of 2016, matching preliminary estimates and following 2.6 percent expansion in the previous period. It is the lowest growth rate since the second quarter of 2014, mainly due to a slump in an industrial output.

Industrial production fell 0.8 percent, compared to a 0.9 percent growth in the previous period. The mining sector declined 8.2 percent, following a 4.8 percent drop in the previous period. Manufacturing advanced at a slower 1.2 percent (+1.6 percent in Q2); construction growth stalled (+3.1 percent in Q2) and utilities rose 3.5 percent (+5.7 percent in Q2). 

The services sector expanded 3.4 percent (3.3 percent in Q2) mainly due to an acceleration in financial and insurance activities (+8 percent from +7.5 percent); corporate (+6.6 percent from +4.8 percent); and cultural and recreational services (+10.8 percent from +4.3 percent) while internal trade growth slowed down (+1.3 percent from 2.3 percent in Q2) and transportation increased only 2.3 percent (+3.3 percent in Q2).

The agricultural sector advanced 5.3 percent, compared to 2.9 percent in the previous period.

On a quarterly basis, the economy expanded 1 percent, compared to 0.1 percent growth in the previous period.  




Wednesday November 09 2016
Mexico Inflation Rate Hits Highest Level in 18 Months
INEGI | Joana Ferreira | joana.ferreira@tradingeconomics.com

Consumer prices in Mexico increased by 3.06 percent year-on-year in October 2016, following a 2.97 percent growth in September, but staying slightly below market expectations of a 3.10 percent gain. It was the highest inflation rate since April 2015, boosted by higher cost of food, housing and transportation.

Year-on-year, prices of food and non-alcoholic beverages rose 4.94 percent, the same as in the previous month; cost of housing and utilities advanced 1.41 percent, following a 1.36 percent gain in September; and transport prices went up 3.42 percent, after rising by 2.79 percent. Additional upward pressure came from: Health (+4.82 percent from +4.77 percent in September); restaurants and hotels (+4.36 percent from +4.45 percent); Education (+4.26 percent from +4.27 percent); miscellaneous goods and services (+3.73 percent from +3.59 percent); furnishings and household equipment (+3.61 percent from +3.56 percent); and clothing and footwear (+3.48 percent from +3.60 percent).

On a monthly basis, consumer prices rose 0.61 percent, the same as in the previous month.

The core index, which strips out some volatile food and energy prices, rose 3.10 percent from the previous year and 0.28 percent during the month.


Monday October 31 2016
Mexico Annual GDP Growth Slows to 2% in Q3
INEGI | Joana Taborda | joana.taborda@tradingeconomics.com

The GDP in Mexico advanced 2 percent year-on-year in the third quarter of 2016, slowing from a 2.5 percent expansion in the previous period but matching market expectations. It is the lowest growth rate since the second quarter of 2014, mainly due to a 1 percent slump in industrial output, preliminary figures showed.

The services sector went up 3.3 percent, higher than a 3.2 percent gain in Q2 and agriculture also increased at a faster 4.9 percent (3.8 percent in Q2). In contrast, industrial output went down 1 percent, following a 1 percent gain in the previous period. 

On a quarterly basis, the GDP expanded 1 percent, the highest in nearly 2 years.


Monday October 31 2016
Mexico GDP Growth at Near 2-Year High
INEGI | Joana Taborda | joana.taborda@tradingeconomics.com

The Mexican economy advanced 1 percent on quarter in the three months to September of 2016, recovering from a 0.2 percent contraction in the previous period and beating market expectations of a 0.9 percent rise. It is the strongest growth rate since the second quarter of 2014, boosted by the services sector, preliminary figures showed.

The services sector grew 1.5 percent, compared to a 0.1 percent increase in the previous period; agriculture rebounded (1.2 percent compared to -0.3 percent in the previous period) while industrial production fell 0.1 percent, following a 1.5 percent contraction in the previous period.

Year-on-year, the economy expanded 2 percent, slowing from a 2.5 percent rise in the second quarter but in line with market expectations. 


Wednesday October 26 2016
Mexico Trade Gap Widens 9% YoY in September
INEGI | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Mexico's trade deficit widened 9 percent to $1.6 billion in September 2016 compared to 1.5 billion a year earlier and above market expectations of $0.7 billion gap. Exports went up 1.4 percent and imports rose 1.7 percent.

Exports went up 1.4 percent year-on-year to $32.6 billion, as oil sales increased 5.7 percent and non-oil rose 1.1 percent. Exports of agricultural goods surged 21.6 percent and those of manufacturing advanced 0.7 percent, with automotive sales growing 3.2 percent. In contrast, mining sales dropped 7.7 percent. Within non-oil exports, those to the US rose 1.5 percent while those to the rest of the world fell 1 percent.

Imports increased 1.7 percent to $34.2 billion, as purchases of oil products jumped 15.8 percent while non-oil increased at a slower 0.5 percent. Imports rose for intermediate goods (+2.7 percent) and capital goods (+1.3 percent) while fell 3.1 percent for consumer goods. 

On a seasonally adjusted monthly basis, exports increased 7.4 percent and imports rose 8.7 percent.


Monday October 24 2016
Mexico Unemployment Rate Falls to 4.1% in September
INEGI | Joana Taborda | joana.taborda@tradingeconomics.com

The jobless rate in Mexico decreased to 4.1 percent in September of 2016 compared to 4.5 percent a year earlier. It is the lowest unemployment rate for a September month since 2008 but higher than market expectations of 4 percent. On a seasonally adjusted basis, it increased to 3.9 percent from 3.7 percent in the previous month.

Compared to a year earlier, the jobless rate decreased for both men (4 percent from 4.4 percent) and women (4.4 percent from 4.6 percent). However, urban unemployment rate for men increased to 5.4 percent from 5.2 percent while for women urban unemployment fell (5.3 percent from 5.6 percent). Among unemployed people, 18.4 percent had not completed secondary education, and 81.5 percent had a higher education.

The participation rate increased to 59.7 percent from 59.5 percent in September of 2015. Among employed people, 68.3 percent operated as a subordinate worker, 22.2 percent worked independently, 4.9 percent worked in business or in family plots, contributing directly to production processes without monetary compensation, and 4.5 percent were employers. Among sectors, 42.4 percent worked in services activities; 19.5 percent in internal trade; 15.9 percent in industry; 13.3 percent in agriculture and 7.8 percent in the construction sector.