July 24, 2014
07/23/14 Los Angeles Times
Gov. Jerry Brown, attending a lunch with Mexico’s secretary of foreign affairs Wednesday, said his upcoming trip to California’s southern neighbor would help “forge new relations into the future.”
Brown is scheduled to be in Mexico City from Sunday through Wednesday, his first official trip to the country since returning to the governor’s office three years ago. He has also invited the Mexican president to California later this year.
July 23, 2014
Mexico’s increasing purchasing power, as well as key reforms passed by recently elected President Enrique Peña Nieto, have contributed to what economic experts at HSBC say may become the world’s eighth-biggest economy by 2050. While it hasn’t received the recent media attention of other emerging economies like Brazil or India, Mexico has quietly positioned itself to be a major economic force in the long term.
One of the primary drivers of Mexico’s recent growth comes from the manufacturing sector. Merchandise goods rose three percent in 2013, a modest but encouraging gain, and one that is expected to improve over the remainder of 2014. Global economic recovery is expected to help Mexico continue its own improvement, especially in the appliances industry, which is expected to grow significantly in the near future. The Boston Consulting Group expressed substantial confidence in Mexico’s manufacturing, noting that manufacturing could add between $20 billion and $60 billion to Mexico’s economy through 2018.
July 22, 2014
07/21/14 Reuters UK
Mexico’s economy likely picked up speed in the second quarter, helped by signs of improving domestic consumption, and growth could be stronger in the second half of the year, a Central Bank deputy governor said on Monday.
Manuel Sanchez, one of five governors on the Bank of Mexico’s board, told Reuters in an interview that the economy appeared to have grown slightly more than expected in the second quarter.
July 9, 2014
Two years after Mexico President Enrique Peña Nieto won election on a promise to boost growth, foreign investors are buying his vision. Their Mexican counterparts increasingly are doubting it.
Mexicans cut their holdings of the nation’s equities by 45 percent in the past year and are now the most bearish relative to foreigners since at least 2010, based on data for BlackRock Inc. exchange-traded funds. Global investors raised holdings during the same period. Peña Nieto’s approval rating has fallen to less than 40 percent from 55 percent in the first quarter of last year, according to polling agency GEA-ISA.
July 9, 2014
Mexico’s annual inflation rate ticked up in June but remained below the central bank’s ceiling, boosting bets that policymakers will leave rates at an all-time low to support tepid growth in Latin America’s No. 2 economy.
Inflation in the 12 months through June was 3.75 percent, the national statistics institute said on Wednesday, below expectations of 3.78 percent in a Reuters poll and above the 3.51 percent annual rate registered in May.
July 9, 2014
Petroleos Mexicanos is beating global oil producers from Exxon Mobil Corp. (XOM) to Chevron Corp. in the bond market as lawmakers move closer to approving rules to lower the company’s taxes.
Dollar-denominated debt from Pemex, as the state-owned company is known, has returned 8.3 percent this year, data compiled by Bloomberg show. That compares with an average 6 percent gain for 372 securities from integrated oil companies globally, a 1.3 percent return on debt issued by Exxon, the world’s biggest energy company by market value, and a 3.3 percent advance on Chevron notes.
July 2, 2014
7/2/14 Fox News Latino
Remittances sent to Mexico by emigrants totaled $9.58 billion in the first five months of 2014, up 7.89 percent compared to the same period last year, the Bank of Mexico said.
Mexico received $8.87 billion in remittances during the January-May 2013 period, the central bank said in its monthly report.
July 1, 2014
The United States should re-evaluate its immigration policy’s definition of skilled workers to include the informal skills of migrant workers.
A new study draws on a research project that involved interviews with 320 Mexican migrants and return migrants in North Carolina and Guanajuato, Mexico. The study identifies lifelong human capital—knowledge and technical and social skills—acquired and transferred throughout these migrants’ careers.
Skills among these migrants not only include basic education and English, but also technical and social skills and competencies acquired informally on and off the job throughout their lives—skills used in construction, domestic, retail, and hospitality work.
Read the actual study here…
June 27, 2014
Mexico posted a small trade surplus in May on solid manufacturing exports and higher volume of crude-oil sales abroad, the National Statistics Institute, or Inegi, said Friday.
The nation’s trade surplus last month was $131.8 million amid expectations by economists of a surplus of $250 million. May’s result compared with a trade deficit in the year-ago month of $460 million, Inegi said.
June 25, 2014
Mexican consumer prices rose in the first half of June as the central bank unexpectedly cut the nation’s key interest rate.
Prices gained 0.08 percent, compared with the 0.1 percent median forecast of 22 economists surveyed by Bloomberg. The annual inflation rate climbed to 3.71 percent from 3.58 percent two weeks earlier, remaining below the 4 percent upper limit of the bank’s target range.