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 last time industrial output fell was in March, down 4.7 percent when Easter holidays crimped factory production compared with 2004 when Holy Week holidays fell in April.
Auto exports, with the majority bound for the United States, dropped 16.7 percent in July and output slumped 13.2 percent in the seventh month of the year, versus a year earlier, according to data from the Mexican Auto Industry Association.
More: today.reuters.com
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
Mexico Industrial Output Unexpectedly Dropped in July (Update2)
Mexico's industrial production unexpectedly fell in July as Hurricane Emily forced state oil company Petroleos Mexicanos to scale back output.
Industrial output dropped 1.1 percent from the year-earlier period after increasing 0.7 percent in June, a government report showed. Economists had forecast an increase of 0.8 percent in July, according to the median of 11 estimates in a Bloomberg survey.
The hurricane, which reduced Pemex's offshore oil output, added to a slowdown in Mexico's economy that has come as demand from the U.S. has eased. Industrial output in Latin America's biggest economy
Mexico Industrial Output Likely Grew 0.8% in July, Survey Shows
Mexico's industrial production probably grew less than 1 percent for a second straight month in July as Hurricane Emily forced state oil company Petroleos Mexicanos to scale back output.
Industrial output rose 0.8 percent from the year-earlier period after increasing 0.7 percent in June, according to the median estimate in a Bloomberg survey of 11 economists. The government is scheduled to release the July report today at 3:30 p.m. New York time.
The hurricane, which reduced Pemex's offshore oil output, added to a slowdown in Mexico's economy that has come as
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
Oil Falls as Hurricane Concern Eases, Mexico May Resume Output
Crude oil declined for a fourth day in five as concern eased that Hurricane Emily will disrupt U.S. supplies and on expectations that Mexico will resume output from its biggest fields tomorrow.
Emily weakened to Category 1 and is headed for an area on Mexico's northeast coast where there are no oil platforms. Petroleos Mexicanos, Mexico's state-owned oil monopoly, said yesterday it expects production in the Campeche Sound will resume tomorrow after a three-day shutdown of 2.95 million barrels a day, or 86 percent of the country's output.
``I believe
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
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 2-Mexico cuts 2005 growth forecast to 3.5 pct
Mexico's finance ministry on Tuesday cut its forecast for economic growth this year to 3.5 percent after manufacturers hit a soft patch due to weaker U.S. demand and a slump in agricultural output.
Alejandro Werner, the ministry's chief economist, said the economy would pick up pace in the second half of the year but that growth in gross domestic product would be less than earlier forecasts of 3.8 percent.
Mexico's economy grew a tame 3.1 percent in the second quarter, way below forecasts, as farming output fell and weak U.S. demand hit Mexico's
UPDATE 3-Mexico cuts 2005 growth forecast to 3.5 pct
Mexico's Finance Ministry on Tuesday cut its forecast for economic growth this year to 3.5 percent after manufacturers hit a soft patch because of weaker U.S. demand and a slump in agricultural output.
Alejandro Werner, the ministry's chief economist, said the economy would pick up pace in the second half of the year but gross domestic product growth would be less than earlier forecasts of 3.8 percent.
Mexico's economy grew a tame 3.1 percent in the second quarter, way below forecasts, as farming output fell and weak U.S. demand hit Mexico's car and truck
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
