UPDATE 1-Mexico industrial production up 2.1 pct in August
Mexican industrial production rose 2.1 percent in August compared to the same month a year ago, heralding a mild recovery in the dull manufacturing sector which has been dragging the overall economy down.
The median of analysts’ forecasts in a Reuters poll had predicted a rise of 2.4 percent in industrial output.
The government said on Wednesday industrial activity in the month grew 0.44 percent compared to July while key manufacturing output increased 2.3 percent in August from a year earlier.
Mexico’s industrial output fell an unexpected 1.1 percent in July compared with the year ago, and manufacturing output fell 2.1 percent.
Analysts saw weakness in the U.S. auto industry, which has large export factories in Mexico employing tens of thousands of workers, spelling trouble for an economy held back by a manufacturing slump.
But Mexico’s auto industry output and exports jumped in September, showing some recovery after months of weakness as U.S. inventory thinned and easier access to credit enticed Mexicans into showrooms.
Wednesday’s industrial output data suggested manufacturing began to stir even earlier.
Source: today.reuters.com
Mexico's Industrial Output Probably Rose 2% in September
Mexico's industrial production probably rose 2 percent in September, the latest evidence that the expansion in Latin America's second-biggest economy is sputtering as export growth to the U.S. slows.
Output growth of 2 percent -- the median estimate of 15 economists surveyed by Bloomberg -- would be down from 2.1 percent in August. It would also mark the fifth straight month in which production growth failed to reach 3 percent. Mexico had average monthly output growth of 3.8 percent last year.
``This economy is not robust,'' Gray Newman, chief Latin American economist at
UPDATE 1-Mexico July industrial output unexpectedly falls
Mexican industrial output fell an unexpected 1.1 percent in July compared to a year ago, the first decline in four months, as manufacturing output was even weaker than forecasts, the government said on Monday.
Key manufacturing output dropped 2.1 percent in July from a year earlier, according to the finance ministry, with weakness evident in the auto industry from declining car and truck demand in the United States.
Analysts in a Reuters poll had expected a median year-on-year increase of about 2.6 percent in July industrial production. Industrial activity in July rose 0.22 percent from June.
The
Mexico Industrial Output Probably Rose 3.9 Percent in November
Mexico's industrial output probably grew at its fastest pace in seven months in November, led by a surge in construction and automobile production.
Industrial output rose 3.9 percent in November from the same month last year after increasing 2.6 percent in October and 1.2 percent in September, according to the median of 15 economists surveyed by Bloomberg.
The pickup in industrial production indicates Latin America's second-largest economy is recovering from a slump as it benefits from stronger growth in the U.S., the buyer of about 85 percent of its exports. Industrial
Mexico Industrial Output Rose 2.1 Percent in August (Update2)
Mexico's industrial production rose 2.1 percent in August, less than the pace of the nation's economic expansion, a sign that manufacturing is losing its role as the country's main driver of growth.
The increase in output from the same month last year follows a drop of 1.1 percent in July, a government report showed. Economists expected a 2.2 percent increase, according to the median of 19 forecasts in a Bloomberg survey.
The lack of a robust recovery in Mexico's manufacturing sector gives the central bank further incentive to cut rates in
Mexicos August auto production up 19.5% to 179,527 units
Mexico auto production and exports continued to grow at a solid pace in August, while domestic sales were little changed from the year-ago month, the Mexican Auto Industry Association, or AMIA, said Monday.
AMIA said production last month rose 19.5% from August 2005 to 179,527 units. Exports jumped 38.2% to 136,114 units, and domestic sales edged up 0.3% to 90,936 units.
The recovery in the Mexican auto industry, the countrys biggest single manufacturing sector, contributed significantly to the 5.4% year-on-year increase in manufacturing in the first half of the year.
Source : marketwatch.com
Brazil, Mexico markets fall, energy boosts Toronto
Brazilian stocks declined Friday, pulled down by a steeper-than-expected decline in U.S. industrial production, a fall in Brazilian retail sales and a growing aversion to risk among investors.
The benchmark Ibovespa index fell 0.4% to 29,772.
The announcement of a 1.3% drop in U.S. September industrial production, compared with a consensus estimate for a 0.4% decrease, dragged Brazilian share prices lower.
The stock market also had to digest a decline in Brazilian retail sales in August, down a seasonally adjusted 0.4% from July, according to data Friday from the Brazilian Census Bureau, or IBGE. It was
UPDATE: Mexico 2005 Auto Production Up 6.6% To 1.6 Million Units
MEXICO CITY -(Dow Jones)- Mexico's auto production rose 6.6% last year to 1.6 million units, reversing four years of declines in a key manufacturing sector, the Auto Industry Association said Tuesday.
AMIA, as the trade group is known, said exports last year rose 8.4% to 1.2 million units, and domestic sales - which include imported cars - rose 3.3% to 1.1 million units.
The auto industry represents the largest single manufacturing sector in Mexico, and weakness in the industry has proved a drag on growth in industrial production in recent
UPDATE 2-Mexico central bank pushes interest rates lower
Mexico's central bank on Friday pushed interest rates 25 basis points lower for the second straight month to revive a tepid economy.
The bank said it would allow the overnight lending rate, which has held at around 9.50 percent for the last month, to fall a quarter of a percentage point. The move was widely expected as inflation has come under control in recent months.
After a long period of tightening monetary policy to bring inflation down, the central bank changed tack last month and began pushing rates lower to help the struggling economy.
"The
UPDATE 1-Schering says to divest Mexico chemicals unit
German drugmaker Schering (SCHG.DE: Quote, Profile, Research) will divest its chemicals production unit at Orizaba in Mexico, part of its Focus cost-cutting drive, it said on Monday.
Schering has around 250 employees at the site and expects the divestment to be completed before 2008. In the meantime, chemical production at the site will continue, it said.
The Berlin-based company is also reviewing chemical production activities at another site, at Bergkamen in Germany.
It said the review was expected to result in a further restructuring and optimisation of production processes.
Schering shares were up 0.2 percent at
UPDATE 2-Mexico's Pemex resumes full production after Emily
Mexico resumed its full production of crude oil on Friday by bringing its wells in the Gulf of Mexico back on tap after they were closed by a powerful hurricane, state oil monopoly Pemex said.
Pemex slashed output and halted exports as Hurricane Emily pounded the Yucatan Peninsula and then moved into the Gulf of Mexico earlier this week.
The storm shut down 2.95 million barrels of day of crude oil as well as 1.87 million bpd of exports, the bulk of them to the United States.
Pemex typically produces about 3.4 million bpd of crude,
