Economy & Finance

Economy & Finance

Mexico manufacturing stagnates in September

Reuters - Mexico's manufacturing sector stagnated in September, underscoring weak growth after a slump this year at the factories of Latin America's second-biggest economy, a survey showed on Tuesday.

www.reuters.com/article/2013/10/01/mexico-economy-pmi-idUSE1N0HQ00120131001

Why less money is being sent home to Mexico

McClatchy - Why are Mexican migrants living in the United States sending less money home to their relatives? If you believe it is because of the economic slowdown, you are partly right. But experts identify other reasons.

www.mcclatchydc.com/2013/10/01/203908/sending-less-money-home-to-mexico.html

Analysts see worsening growth expectations

El Economista - Experts consulted by the Bank of Mexico say the outlook for the country's economy is more severe than the federal government predicts. Analysts slashed to 1.43 percent growth expectations for this year from 1.78 percent.

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Peso posts quarterly loss over U.S. concerns

Bloomberg - Mexico’s peso fell this quarter as President Enrique Pena Nieto’s push to bolster growth through legal reforms failed to overshadow concern about the U.S. economy and the Federal Reserve’s monetary stimulus.

www.bloomberg.com/news/2013-09-30/mexico-s-peso-heads-to-fifth-daily-drop-as-u-s-shutdown-looms.html

Finance minister says floods will trim 2013 growth

Reuters - Severe flooding that hit Mexico this month is likely to knock off about 0.1 percentage point from growth in 2013, with reconstruction efforts in the final quarter helping to dampen the impact, Finance Minister Luis Videgaray said on Friday.

www.reuters.com/article/2013/09/27/us-mexico-economy-idUSBRE98Q12V20130927

Carstens says economic slowdown is temporary

Reuters - A slowdown in Mexico's economy, which contracted in the second quarter, is temporary, Central Bank Governor Agustin Carstens said on Tuesday, forecasting growth would recover to levels of around 3 percent in 2014.

www.reuters.com/article/2013/09/25/mexico-economy-growth-idUSL2N0HL03120130925

Government exempts taxpayers affected by rains

El Economista - The Federal Executive issued a decree by which gives various tax benefits to taxpayers affected by the recent rains, with the aim of contributing to the revival of the production plant and preserve sources of employment.

ublicas/2013/09/24/emiten-decreto-apoyos-fiscales-afectados-lluvias

Seasonally adjusted jobless rate dips in August

Reuters - Mexico's seasonally adjusted jobless rate fell to 4.78 percent in August, its lowest since February. Latin America's No. 2 economy has stumbled this year amid slack U.S. demand for local exports and a drop in domestic construction.

www.reuters.com/article/2013/09/20/mexico-economy-idUSL3N0HG26V20130920

Mexico hedges oil at highest price on record

Financial Times - Mexico has hedged its oil production for the coming year at the highest price on record, in a striking indication of how stubbornly high oil prices continue to allow producing governments to finance growing budgets.

www.ft.com/intl/cms/s/0/ec038a60-206b-11e3-9a9a-00144feab7de.html#axzz2fLSItJCl

Fed move increases bets on Mexico rate cut

Reuters - The U.S. Federal Reserve's decision to keep its stimulus unchanged on Wednesday, due to concerns about the health of the U.S. economy, deepened bets that Mexico will further cut interest rates to spur growth.

www.reuters.com/article/2013/09/18/mexico-cenbank-rates-idUSL2N0HE2FL20130918

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