economy-featured
Carstens maintains inflation, GDP forecast
Bloomberg - Mexico’s central bank kept its inflation and economic growth forecasts unchanged through next year, saying it would wait for more economic data before making any changes to its predictions. The economy had a good second quarter and exports have been vigorous this year, bank Gov. Agustin Carstens said.
www.businessweek.com/news/2010-07-28/mexico-s-carstens-maintains-inflation-gdp-forecasts.html
Economic activity grows more than exected in May
Reuters - Mexico's economic activity expanded by 8.85 percent on an annual rate in May, more than expected by the market, with a low base of comparison, since the same month last year he had a sort of temporary paralysis by an epidemic of influenza.
Unemployment rate drops to 5.05 percent
El Financiero - Mexico's unemployment rate dropped to 5.05 percent in June, compared with 5.13 percent of the previous month, the Mexican statistics institute reported Friday. Analysts predicted an unemployment rate of 5.10 percent for June.
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
Hurrican Alex adds to Mexico's economic woes
Xinhua - Hurricane Alex, which hit three northern Mexican states two weeks ago, will reduce the industrial output and raise inflation in the Latin American nation, economists said. The natural disaster, however, is not going to lead to a financial crisis, because the government has a long-standing budget for natural disasters.
news.xinhuanet.com/english2010/world/2010-07/14/c_111951851.htm
8 percent of Mexican professionals have left
Reforma - Eight percent of Mexican professionals have left the country for the United States, reveals a study of the Organization for the Cooperation and the Economic Development (the OECD). Mexico is expected to be impacted by the brain drain through 2025.
Businesses make donations to help storm victims
El Semanario - The business sector has offered products and donations to help the victims of the devastating rains and wind in Leon, Tamaulipas and Coahuila.Among others companies, Gruma has given 28 tons of its products to 10,290 damaged families impacted by floods.
Mexico might revise growth prediction: Cordero
El Semanario - Secretary of Finance Ernesto Cordero affirmed in a Bloomberg interview in London that the Mexican government could increase its prediction of economic growth for 2010 after the IMP revised its prediction that Mexico's growth rate will reach 4.5 percent.
IMF increases Mexico, Brazil growth forecasts
Bloomberg - The International Monetary Fund raised its forecasts for Brazil’s and Mexico’s economic growth this year while noting that Latin American economies “face some risk of overheating.” Mexico, Latin America’s second-biggest economy, will expand 4.5 percent in 2010, revised from a previous estimate for 4.2 percent expansion, the report said.
www.businessweek.com/news/2010-07-07/imf-increases-brazil-mexico-growth-forecasts-for-this-year.html
Lozano says 130,745 jobs are still lacking
La Jornada - Labor Secretary Javier Lozano told industrialists on Tuesday that there still is a deficit of 130,745 jobs that will need to be created in order to reach the occupation levels before the economic crisis. A total of 701,316 jobs were lost.
www.jornada.unam.mx/2010/06/30/index.php
Economy grows 7.2 percent in April
El Universal - Mexico's economy grew by 7.2 percent in April, compared to the same month last year as a result of favorable performance in all economic activities in the country. The fourth month's growth is the largest increase this year, surpassing the 7 percent in March.
