Mexico predicts 3 percent GDP growth
Mexico’s finance minister said Monday that the government expects to end the year with gross domestic product growth of about 3 percent, a slowdown from 4.4 percent in 2004.
At a news conference, Francisco Gil Diaz said economic growth “isn’t what we would have wanted, and could have been higher if reforms had been carried out.”
Mexico’s Congress has resisted President Vicente Fox’s efforts to push tax, labor and pension reforms, as well as initiatives to increase private investment in energy.
Still, 750,000 jobs were created in 2005, Gil said.
Gil said the country’s free-floating exchange rate and flexible interest rates will contribute to stability not only during the 2006 government transition, but for the next 20 years.
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Mexico economy grows 3.3 pct in third quarter
Mexico's economy grew 3.3 percent in the third quarter, dragged down by weakness in the manufacturing sector despite strong farm output.
Compared to the second quarter, gross domestic product expanded by a seasonally adjusted 2.15 percent, the government said on Wednesday.
It had predicted third-quarter growth of around 3.5 percent from the same period a year ago, while a Reuters poll of analysts produced a consensus forecast of 3.2 percent growth.
Manufacturing grew only 0.2 percent in the third quarter as sluggishness at factories, including assembly plants that supply the struggling U.S. auto industry, limited
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
JPMorgan, CSFB, Santander, ING Cut Mexico GDP Outlook (Correct)
JPMorgan Chase & Co., Credit Suisse First Boston, Santander Central Hispano SA and ING Groep NV cut their forecasts for Mexican growth this year after a government report showed the economy expanded less than expected in the second quarter.
JPMorgan reduced its growth forecast to 2.4 percent from 3.2 percent while Credit Suisse First Boston cut its forecast to 3 percent from 4 percent and Santander lowered its estimate to 3.2 percent from 3.5 percent. ING cut its estimate to 2.8 percent from 3.6 percent.
Latin America's largest economy expanded 3.1 percent
Mexico 3rd-Qtr GDP Rises 3.3%, Fastest Pace in 2005
Mexico's economy grew at its fastest pace in three quarters in the July-to-September period, spurred by a surge in bank lending to consumers.
The economy expanded 3.3 percent in the quarter, more than the 3.2 percent median forecast from 18 analysts in a Bloomberg survey, a government report showed. The growth rate was higher than the 3.1 percent rate in the second quarter and 2.4 percent rate in the first quarter.
Consumer demand is rising as interest rates decline and banks boost lending, helping offset a slump in manufacturing exports to
Mexicos economic activity grew 4.4 pct in Feb
Mexicos economy expanded a healthy 4.4 percent in February compared with a year earlier, government data showed on Thursday in the latest sign that growth picked up in the first quarter.
But Februarys year-on-year expansion was not as strong as Januarys 5.7 percent leap and economic output fell 0.61 percent in February from January on a seasonally adjusted basis. But it still set the basis for a solid quarterly GDP growth.
The monthly IGAE index measures about 96 percent of Mexican economic output, excluding only fishing and forestry.
Analysts in a Reuters poll had expected a
Mexico 1st-Qtr GDP Grew at Fastest Pace in 5 Years
Mexicos economy grew at the fastest pace in five years in the first quarter as exports surged and domestic demand picked up, the central banks chief economist said. More working days in the period compared with a year ago helped boost the growth figure, he said.
The rate of economic growth quickened to 5.2 percent in the first quarter from 2.7 percent in the fourth, the central bank said today in its quarterly inflation report.
This number, at the margin, shows that the economy is doing better than last year,
Mexico Bolsa Rises on Economy, Led by Corp. Geo: Latin Stocks
Mexican stocks rose and headed for a fifth straight weekly gain, led by homebuilder Corporacion GEO SA, as the government reported that the economy expanded faster than economists estimated in the third quarter.
The Bolsa index of the most-traded stocks in Mexico City rose 90.05, or 0.6 percent, to 16,545.44, a record. The index gained 2.5 percent for the week. Elsewhere in Latin America, Brazil's Bovespa was little changed today, rising 15.37, or less than 0.1 percent, to 31,102.37, for a 2 percent gain in the week.
The Bolsa
Mexico Economic Growth Quickens to 3.1% in Second Quarter
Mexican economic growth quickened in the second quarter, led by a jump in investment as companies including Brunswick Corp. build plants to meet rising demand in the domestic market and in the U.S.
Gross domestic product, the broadest measure of a country's output in goods and services, expanded 3.1 percent from a year ago after growing 2.4 percent in the first quarter, the government said in an e-mailed report. The median of 12 economists in a Bloomberg survey showed the economy grew 4 percent.
Second-quarter GDP fell 0.42 percent from the first
Brazil's economy overtakes Mexico
The hefty appreciation of Brazil's currency against the dollar over the last two years has helped Brazil overtake Mexico as Latin America's largest economy in dollar terms.
Brazil had gross domestic product of $794.4 billion for the four quarters ending June 30, according to a report issued Thursday by the Brazilian Census Bureau, known by its Portuguese acronym IBGE.
Mexican GDP stood at $765.7 billion for the same period, Mexico's government reported earlier.
GDP measures the value of all goods and services produced in any given country, and Brazilian GDP has been growing faster than Mexico's.
But the biggest
Brazil Overtakes Mexico in Economies
The hefty appreciation of Brazil's currency against the dollar over the last two years has helped Brazil overtake Mexico as Latin America's largest economy in dollar terms.
Brazil had gross domestic product of $794.4 billion for the four quarters ending June 30, according to a report issued Thursday by the Brazilian Census Bureau, known by its Portuguese acronym IBGE. Mexican GDP stood at $765.7 billion for the same period, Mexico's government reported earlier.
GDP measures the value of all goods and services produced in any given country, and Brazilian GDP has been growing faster than Mexico's.
But the
