economy-featured

economy-featured

Tax expert says Mexico needs to boost rate by 6%

Reuters - Mexico needs to raise its tax take by at least 6 percentage points of GDP - or about $72 billion a year - to fund the incoming president's spending plans, a senior tax expert with links to the federal government said.

in.reuters.com/article/2012/09/13/mexico-taxes-idINL1E8KDFIU20120913

22.3 million birds slaughtered to prevent spread of flu

EFE - Mexico's poultry farmers slaughtered 22.3 million birds between June and August to contain an outbreak of avian flu, and they immunized 140 million other birds, the National Food Health, Safety and Quality Service, or Senasica, said.

latino.foxnews.com/latino/health/2012/09/12/mexico-slaughters-223-mn-birds-to-prevent-spread-flu/

Mexican middle class boosting sales of U.S. imports

Washington Post - Trade between the United States and Mexico is surging, up 17 percent in 2011 to a record $461 billion, as a growing Mexican middle class is buying more U.S. goods than ever.

seattletimes.com/html/businesstechnology/2019119008_mexicoamericana11.html

Analysts raise Mexico 2012 inflation view

Reuters - Analysts following Mexico's economy raised their forecast for inflation this year for the third month in a row, the central bank said on Monday in a monthly poll of economists, banks and brokerages.

in.reuters.com/article/2012/09/03/mexico-economy-idINE1E8HM00Z20120903

Consumers drive aggressive credit expansion

Nasdaq - Consumer lending drove credit growth in Mexico during July. Mexican commercial banks had 2.17 trillion pesos ($164 billion) in outstanding credit to private-sector entities as of July, up 10.2 percent on the year.

www.nasdaq.com/article/mexican-consumers-drive-aggressive-credit-expansion-in-mexico-20120831-00373

Telecom industry grows 13.4% in first half of year

EFE - Mexico's telecommunications industry grew 13.4 percent in the first half of 2012, compared to the same period last year, thanks to a strong performance by long-distance telephony, satellite television and mobile telephony.

latino.foxnews.com/latino/news/2012/08/28/mexico-telecom-industry-grows-134-pct-in-first-half-12/

Mexico reports current account deficit

Bloomberg - Mexico reported a second-quarter current account surplus of $440 million, surprising economists who had forecast a deficit, as a weaker currency helped boost exports, the central bank said.

www.businessweek.com/news/2012-08-24/mexico-reports-current-account-surplus-on-export-strength

Government scrambles to beat egg shortage

Associated Press — The Mexican government is battling an egg shortage and hoarding that have caused prices to spike in a country with the highest per-capita egg consumption on earth. About $225 million is to be spent on emergency program.

www.washingtonpost.com/business/mexico-scrambles-to-beat-egg-shortage-spending-millions-on-emergency-measures/2012/08/24/92431d04-ee0a-11e1-b624-99dee49d8d67_story.html

Inflation expected to dip below 4% by year's end

Reuters - Mexico's central bank said inflation would come in below its 4 percent ceiling this year despite a recent spike due to high fresh food prices, a global phenomenon which is fanning fears about a repeat of the 2008 food crisis.

www.reuters.com/article/2012/08/15/mexico-economy-idUSL2E8JFBAM20120815

Economists predict 4.2% growth in 2nd Q

Dow Jones - Mexico's gross domestic product, a broad measure of output in goods and services, is expected to have expanded 4.2 percent year-on-year in the second quarter of 2012, according to the median estimate of 17 economists.

online.wsj.com/article/BT-CO-20120813-709644.html

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