Monday January 09 2017
Mexico Inflation Rate At 2-Year High Of 3.36%
INEGI | Joana Taborda | joana.taborda@tradingeconomics.com

Consumer prices in Mexico increased 3.36 percent year-on-year in December of 2016, following a 3.31 percent rise in November and compared to market expectations of 3.4 percent. The inflation rate accelerated for the sixth straight month, reaching the highest since December of 2014, boosted by food, housing and energy cost. The central bank expects inflation to rise toward 4 percent in 2017, partially reflecting a weaker peso.

Prices rose faster for food, beverages and tobacco (4.4 percent from 4.2 percent in November), housing (2.41 percent from 2.38 percent) and energy (2.42 percent from 1.77 percent) while education cost rose at the same pace (4.26 percent). 

The core index which strips out some volatile food and energy prices went up 3.44 percent, following a 3.29 percent rise in November. 

On a monthly basis, consumer prices rose 0.46 percent and the core index increased 0.45 percent.




Friday December 23 2016
Mexico Trade Balance Swings to Surplus in November
INEGI Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Mexico recorded a trade surplus of $0.2 billion in November of 2016 compared to a trade gap of $1.6 billion a year ago, as exports advanced more than imports.

Exports jumped 11.1 percent to $34.47 billion as non-oil sales rose 11.3 percent while oil sales increased 6.8 percent. Also, sales advanced for agricultural goods (+31 percent); mining (+28.6 percent); and manufacturing (+10.3 percent). Within non-oil exports, those to the US increased 9.1 percent while to the rest of the world went up 8.9 percent.

Imports advanced 5.1 percent to $34.3 billion as non-oil purchases advanced 3.7 percent while oil products jumped 23.9 percent. Imports rose for intermediate goods (+7.8 percent) and capital goods (+1 percent) while fell for consumer goods (-5.1 percent). 

On a seasonally adjusted basis, exports rose 3.7 percent and imports increased 1.4 percent.




Friday December 23 2016
Mexico Unemployment Rate Falls to 3.5%
INEGI | Joana Taborda | joana.taborda@tradingeconomics.com

The jobless rate in Mexico decreased to 3.5 percent in November of 2016 from 3.96 percent a year earlier. It is the lowest jobless rate for a November month since 2005. On a seasonally adjusted basis, it was steady at 3.6 percent.

Compared to a year earlier, the jobless rate decreased for both men (3.55 percent from 3.9 percent) and women (3.47 percent from 4.05 percent). Among unemployed people, 15.2 percent had not completed secondary education, and 84.8 percent had a higher education.
 
Those underemployed accounted for 7 percent of total employed, less than 9.2 percent a year earlier.
 
The participation rate declined to 60 percent from 61.5 percent in November of 2015.




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.