economy-featured
Industrial production falls for first time in six months
Sentido Comun - Mexico's industrial production fell 0.4 percent in seasonally adjusted terms in June against May, the first decline in six months. Manufacturing fell 0.1 percent in June compared to May, the mining sector fell 1.2 percent and construction fell 1.4 percent.
Gulf oil spill raises fears for Mexico
Dallas Morning News - The Mexican government hasn't said much about the BP oil spill. Some analysts tie the reticence to an awareness that the spill holds worrying implications for Mexico's economic future. Pemex has only limited experience with deep-water drilling.
Banxico remains "cautious" about growth
Dow Jones - Mexico's Finance Ministry on Monday backed its estimate of 4.1 percent economic growth this year even as economists raise their outlook for the economy, according to a government official. Miguel Messmacher, the ministry's director of economic planning, said the government is being "cautious."
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.
