Inegi: Value of total construction -6.5% in Jan., season. adj. real terms; annual trend -5.0%; building division -26.8%; annual trend -21.3%
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31 March 2009
COREX: Manufacturing: Jan. Inegi manufacturing headcount index -11.6% v -12.3% Dec. seasonally adj. annualized; Jan. trend rate -9.0% annual
COREX: Manufacturing: Jan. Inegi manufacturing work-hours index -15.6% v. -30.6% Dec. seasonally adj. annual; Jan. trend rate -11.6% annual
G20: Calderon, Gordon Brown issue joint statement on crisis: Call for coordinated action and preservation of free trade and open markets
Top Story Cronica: Calderon Rules Out Joint Patrols - President rejects joint US-Mexico military operations in Mexico to combat narco
Top Story Jornada: Fiscal Revenue -6.7% in Jan.-Feb. - In first two months, revenue of MXN440.7bln represented a real-term loss of 6.7% y/y
Top Story Universal: Taxes Plunge In Jan.-Feb. - Slower economy led to Feb. fiscal deficit of MXN8.1bln; VAT, IETU, income tax -9.1% on ave.
Top Story 2009: Historic Global Contraction - World Bank estimates 1H global GDP to decline 1.7%; OECD sees Mexico GDP -2% full year 2009
Top Story Reforma: VAT Revenues Fall 30% - With consumption sharply lower, value-added tax revenues fell 30% in Feb.; worst in 16 yrs
30 March 2009
El Universal Survey: PRI cedes ground for midterm elections; voter preferences for PRI fall from 39.9% in Feb. to 30.3% in Mar.; PAN in 2nd
Manufacturing: Jan. Inegi manufacturing work-hours index -25.56% v. -16.55% Dec. seasonally adj. annualized; Jan. trend rate -5.48% annual
Manufacturing: Jan. Inegi manufacturing headcount index -14.45% v. -6.75% Dec. seasonally adj. annualized; Jan. trend rate -8.95% annual
Top Biz Story Universal: Halting Injunction Abuse - FinMin prepares bill to halt mass use of injunctions by taxpayers; constitutional reform
Top Story Universal: UNAM Rejects 105K - Historic level of applicants amid crisis; only 8% were accepted; med school, engineering top volume
Top Story Excelsior: Millionaire Education Fund Diverted - MXN1.7bln in '07 fed education funds for states wrongly diverted to Teacher Union
Top Story Jornada: Narcoviolence 'Out Of Control' Says Obama - US President warns cartels serious threat for US border; natl guard on hold
Top Story Economista: Anticyclical Policies, Reforms Urgent - With the economy in free fall, govt, Congress failing to enact plans: CEESP
Top Biz Story Reforma: Afores Back In Black - Retirement fund managers returned to profit in Mar.; MXN44bln in gains since Feb.
Top Story Reforma: The Violence Is Out Of Control: Obama - US President says narcoviolence out of control, serious threat for border cities
29 March 2009
IFE plans MXN9.5mln fine for Green Party for buying TV spots calling for death penalty for kidnappers; electoral reform bans buying airtime
In TV interview Obama says, "We've got to reduce demand for drugs. We've got to do our part in reducing the flow of cash and guns south."
Intellectual Property: The Federal District Attorney General and Federal Police seized 6,000 pirate CDs and DVDs in Mexico City in Wed. raid
Economy: After huge drop in Jan. Igae (-9.5% y/y unadjusted), analysts see Q1 GDP -5% or more: Jornada
Top Story Cronica: Zetas Recruit, Train Hitmen In Guatemala - Zetas, armed enforcers of Gulf Cartel, found using training camps in Guatemala
Top Story Jornada: Chihuahua Top Cop Quits - Javier Alberto Torres resigns from post after ranking narco Crispin Borunda escapes custody
Top Story Universal: Pushing For Bill Of Rights - Fed govt working with Congress on bill to enshrine human rights in the Constitution
Top Story Reforma: More Judges, More Backlog - In 1994, 305 fed. courthouses, in 2009 611; but accused awaiting trial has doubled in 10 yrs
G-20: Calderon has departed for the G-20 Summit in London; president said he would urge the US to resist adopting protectionist policies
G-20: Calderon has departed for the G-20 Summit in London; president said he would push for more resources for global financial institutions
28 March 2009
Trade War: For a list of punitive tariffs imposed by Mexico on the US for the latter's failure to open its borders to Mexican trucks: http://ping.fm/yMi8O
Govt denies plans to expel singer Manu Chao for denouncing repression in San Atenco; foreigners prohibited from political expression in Mex
Media: Calderon decrees national public TV Channel 11 to go nationwide, open broadcast currently covers 25% of country
Security: Felipe Calderon appoints Jorge Tello Peon head of National Public Security System. Since Oct. 2008, has been natl security adviser
Top Econ. Story Reforma: IETU Worsens Crisis - New Single Rate Business Tax weighs on companies even when suffering losses
Top Story Cronica: 62K Narcos Arrested; Only 3K Go To Jail - Of the thousands arrested by PGR since Dec. 1, 2006, 59K are unaccounted for
Top Story Jornada: Crisis Creates Historic Demand On UNAM - Weak job market compels youth to seek education; 155,000 turned away this year
Top Story Universal: IFE To Audit AMLO - Federal Electoral Institute is auditing AMLO for his political rallies and the origin of the funds
Top Story Reforma: Economy Falls At Steepest Rate On Record In Jan. - Decline in IGAE of -9.5% worst on record since 1993
27 March 2009
UPDATE: Jan. GDP proxy (IGAE) seasonally adj. annual trend rates: Total -16.64%; services -17.28%; industry -15.15%; agriculture -5.28%
Top Finance Universal: Mexico In Coma, Say Business - At Manufacturing Industry Chamber assembly, leaders accuse govt of fiscal inaction
Top Story Universal: Our Counternarcotics Efforts Failed, Says DEA - The strategy has failed, reflected in high domestic consumption
Top Story Economista: Latin America Will Live Crisis 1yr - Inter-American Development Bank urges preparation
Top Story Jornada: Mexicans Hold US$322bln In Foreign Banks - Capital flight, more attractive investment opportunities abroad cited
Top Finance Reforma: Benchmark Credit Card - A Senate bill would require all banks to offer a standard card with MXN900 limit, no annual fee
Top Story Reforma: Zetas Recruit Women - The armed enforcers of the Gulf Cartel have opened a new division, The Panthers, of female fighters
26 March 2009
Finance: Senate committees approve bills to limit interest rates and commissions that banks charge customers; central bank likely watchdog
Top Story Jornada: US: Narco Puts Calderon Govt At Risk - Mexican cartels out of control; Obama calls Calderon 'brave'
Top Story Economista: Nafin And Bancomext To Merge - Two largest state-owned banks are set to merge; will be charged w/development projects
Top Story Universal: Hillary: Unfair To Blame Mexico For Drugs - Sec of State recognizes failure to control drug demand in US drives traffic
Hillary Clinton will deliver an address on US-Mexico bilateral relations on Thur. 1:15 pm local Monterrey time; webcast: tecvirtual.itesm.mx
25 March 2009
UPDATE: Feb. Import Trends: Total imports trend rate -45.1%; intermediate trend -38.8%; consumer trend -45.0%; capital goods trend -36.0%
UPDATE: Feb. Export Trends: Total exp. trend rate -36.8%; non-petroleum exp. trend -28.9%; manuf. exp. trend -37.20%; oil exp. trend -51.4%
Trade: Prelim. Feb. exports -3.1% seasonally adj.; non-petro. +18.66%; prelim. Feb. imports -4.23%; consumer imports +42.17%
Top Story Jornada: Lozana: Loss Of 370,000 Jobs Normal Cycle - Labor minister advises workers to pursue studies to fill labor market needs
Top Story Universal: US Gave Funds To Liberate Territories - DoD slated US$13mln to Mex air force to help reduce ungoverned areas in Mexico
Top Story Economista: Public Works To Be Freed Up - The legal framework for public work spending tied up; govt prepares procurement reform
Top Story Financiero: Historic Joblessness In February: 2.4mln - The (unadjusted) unemployment rate in February was 5.3%, highest on record
Top Story Reforma: Tax Returns Accelerated - President decrees surpluses must be returned in 15 to 20 days; govt failures may be fined
24 March 2009
Inegi: Feb. season. adjust. nat'l open unemployment rate 4.89% v. 4.64% in Jan.; Feb. urban unemployment 6.05% v. 5.92% in Jan.
Banxico: 1HMar. consumer price index at 5.98 annual, down from 6.20 end of Feb.; core inflation down slightly to 5.72 from 5.78 end of Feb.
Border: US unveils scheme to crack down on bi-directional smuggling of drugs, guns, money across border; plan calls for agents, technology
Top Story Financiero: Exports Of Intermediate Goods To US Plummet - A decline of 40.7% in intermediate goods to US in January
Top Story Reforma: Senate Demands Cheaper Diesel - Amid trucker protests, senators will push Calderon to lower prices of diesel, gasoline
Top Story Cronica: Rewards Of Up To MXN30mln For Info Leading To Capo Captures - On list are
El Chapo, El Mayo, El Azul, El Lazca, others
Top Story Economista: Mexico Rating Endangered - Fitch warns of a downgrade if govt fails to face looming fiscal pressures starting 2010
Top Story Universal: Opposition Fights Banamex Case - Prepare Supreme Court case; US govt stake in Citigroup Banamex deemed unconstitutional
23 March 2009
Inegi releases new farming survey: 30.2mln hect. of farmland; most important crops: corn, beans, sorghum; together account for 75% of crops
Inegi: Aggregate Non-Fin. Services Income Indicator -0.1% in Jan. (yoy, not seas. adj.); first decline on record, vs. +3.6% in Dec.
Inegi: Jan. seas. adj. retail sales -4.0% v. -16.5% in Dec., trending -6.0%; Jan wholesale sales -15.7% v. -1.6% in Dec., trending -4.4%
Top Story Economista: Deschamps Rejects Lowering Rates, Commissions By Decree - New head of Mexican Bank Association favors market forces
Top Story Jornada: Half Million Mexicans In Arrears - Figures from credit bureau show 500,000 more debtors in Jan.-Feb. alone
Top Story Reforma: Private Sector Does The Work Of Attorney General - To combat piracy, detectives, attorneys, others fill the gap for PGR
Top Story Universal: Crisis Will Drive Thousands From Schools - Economic crisis will slam education; private schools could see 50% reduction