Industry in Mexico
Mexico - IndustryA second GDP release revealed that the economy escaped recession by an even narrower margin than initially thought: Output stagnated on a quarterly basis in Q2, which was revised down from the fractional expansion shown in the flash estimate, following a mild contraction in Q1. In annual terms, activity slumped for the first time since 2009 on the back of a sharp decline in industrial-sector output. Although expenditure-side data is pending release, private consumption likely remained subdued—despite solid growth of remittances and wages—while capital spending remained depressed. Looking ahead, the manufacturing PMI slid further into negative territory in August on falling output and new orders; meanwhile, that of services edged up but remained in contractionary mode, pointing to continued private-sector weakness at the start of Q3. In other news, the Finance Ministry presented a widely anticipated, fiscally-prudent 2020 budget to Congress on 8 September, targeting a primary surplus of 0.7% of GDP, down slightly from the 1.0% penciled in for this year.
Mexico - Industry Data
|Industrial Production (annual variation in %)||-0.2||2.6||1.2||0.4||-0.3|
5 years of economic forecasts for more than 30 economic indicators.
Mexico Industry Chart
Source: Mexico National Statistical Institute (INEGI) and FocusEconomics calculations.
|Bond Yield||6.95||-0.24 %||Sep 04|
|Exchange Rate||19.72||-0.29 %||Sep 04|
|Stock Market||42,324||0.12 %||Sep 04|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 9, 2019
Consumer prices slipped 0.02% from a month earlier in August, following the 0.38% month-on-month increase in July.
September 6, 2019
Consumer confidence bounced back in August after five consecutive months of decline, with the seasonally-adjusted consumer confidence index published by the Statistical Institute (INEGI) coming in at 43.4 points, up slightly from 43.1 points in July.
September 2, 2019
Remittances totaled USD 3.3 billion in July (June: USD 3.2 billion), a 14.4% jump from the same month a year ago (June: +1.4% year-on-year).
August 27, 2019
Exports increased a firm 7.0% year-on-year in July, well above June’s 1.2% expansion and the strongest reading in nine months.
August 23, 2019
The monthly indicator for economic activity (IGAE, Indicador Global de la Actividad Económica) advanced 0.2% in seasonally-adjusted, month-on-month terms in June, following May’s flat reading.