Economy & Finance
Consumer confidence rises first time in 3 months
Sentido Comun - Consumer confidence in Mexico rose 2.6 percent, seasonally adjusted, in January against December, the first rise in the last three months. In annual terms, consumer confidence improved 3.4 percent up against January 2010.
Remittances rising after years of stagnation
LAT - Mexico saw remittances from abroad rise last year by nearly 7 percent, the biggest annual increase in money transfers by migrants in five years, the central bank reported Wednesday. The country took in $22.7 billion.
Pemex posts $25 billion trade surplus in 2011
Latin American Herald Tribune - Petroleos Mexicanos, or Pemex, said it posted a trade surplus of $24.99 billion in 2011, up 28 percent from the prior year. Exports totaled $55.79 billion, while imports came in at slightly more than $30.8 billion.
U.S.-Canada-Mexico trade rises 12.7% in November
Truckinginfo - Trade using surface transportation between the U.S. and Canada and Mexico was 12.7 percent higher in November 2011 than in November 2010, totaling $76.7 billion, according to the U.S. Department of Transportation.
Slim refutes OECD study citing huge overcharges
Bloomberg - Telephone magnate Carlos Slim refuted the OECD study that said Mexican customers were overcharged by $13.4 billion a year in phone charges. Slim said the data used by the OECD “was pulled out of thin air.”
Drought dries up Mexico's marijuana crop
Fox News Latino - Drug growers in Mexico are feeling the heat, but not from enhanced government security. A harsh drought has reduced their crops of marijuana and opium poppies and is forcing cartels to ramp of their production of other, synthetic drugs.
latino.foxnews.com/latino/news/2012/01/31/drought-dries-up-mexicos-marijuana-crop/
Writers urge officials to protect journalists
CPJ - Leaders of a high-level PEN International delegation met with top Mexican officials to pressure them to improve law enforcement in the murders of journalists and to change the law to bring more cases under the federal government's jurisdiction.
www.cpj.org/blog/2012/01/in-mexico-mission-pen-speaks-for-a-silenced-press.php
Economy likely expanded 3.7% in 4th Q
Dow Jones - The Mexican economy likely expanded 3.7 percent in the fourth quarter of 2011 compared with the same period in 2010, the Finance Ministry said Monday. The projected growth is below the 4.5 percent rate registered in the third quarter.
Report says Mexico loses billions in illegal outflows
Reuters - About $50 billion a year is siphoned illegally out of Mexico due largely to tax evasion and trade manipulation, according to a report from Washington-based anti-corruption advocacy group Global Financial Integrity.
www.trust.org/trustlaw/news/mexico-loses-50-blnyear-in-illegal-outflows-report
Carstens says drought might impact inflation
Bloomberg - Mexico’s worst drought on record is pushing up food costs and might hamper the country’s efforts to keep inflation expectations in check, central bank Governor Agustin Carstens said.
