Top Story Universal: PRD Hems In Juanito - PRD supporters blockade delegation HQ after Iztapalapa chief reclaimed his elected office there
Mexico Watch Intelligence Service
The leading intelligence blog for analysis on business, politics, finance, and the economy for Mexico. Thousands of diplomats, analysts, investors, government officials and top executives with responsibilities - direct or otherwise - relied upon the Mexico Watch Intelligence Service for nearly 20 years. Publication of that service was suspended in 2009, but this blog remains in publication and free to read. Contact us for information on our research and consulting services.
29 November 2009
Top Story Reforma: Reward System Fails - After 2mos of MXN400mln fund for cash rewards for organized crime tippers, not 1 peso doled out
Top Story Jornada: Honduras To Hold Discredited Elections - Today CenAm country votes; Brazil leading regional charge to ignore prez results
Top Story Milenio: I Will Not Break With AMLO: Ebrard - Mexico City mayor will run for president in 2012, but refuses to split with AMLO
Top Story Excelsior: Govt Contracts Nat'l ID Before Law Passed - Though the feds have awarded contracts for biometric design, law in limbo
Top Story Cronica: Congress Seeks To Review Contract For Identity Card - Controversy over national ID card sparks calls for inquiry on bids
27 November 2009
Inegi: Manufacturing work-hours index in Sep at 83.7 (2003=100), +1.0% on a month-to-month, annualized, seasonally adjust basis; trend -4.1%
Inegi: Manufacturing employment index in Sep at 84.0 (2003=100), +1.0% on a month-to-month, annualized, seasonally adjust basis; trend -4.1%
Editorial Universal: Church should stay out of politics on sexual orientation, reproductive rights, and euthanasia debates in Mexico
Top Story Universal: Calderon Proposes End Of Municipal Police - President calls for absorption of municipal cops by state-level agencies
Editorial Jornada: Suspicions around Smartmatic and cries of foul only strengthen doubts for need of a biometric national identity card
Top Story Jornada: Govs Reject Crime Barometer - Governors object to crime perceptions study, demand a consensus-based methodology be used
Top Story Reforma: Cofetel Urges Transparency - Federal Telecommunications Commission wants make public and televise its sessions
Top Biz Story Reforma: Govt Calls For Bids For Nautical Ladder - Wants to concession Sea of Cortez tourism-oriented small ship ports project
Top Story Financiero: Dubai Causes Domino Effect - Suspension in payments by Dubai-backed fund wreaks havoc on markets worldwide
Top Story Economista: Business, President Call For Truce - Business chambers and Calderon agree to take spat over taxes, policies private
Top Story Excelsior: Crime Report Irks States - After harsh results of private study, states want independent commission; Calderon backs it
Top Story Milenio: Governors Reject Crime Stats - Private pollster on contract by feds provokes gubernatorial ire with victim study results
Top Story Cronica: Company Linked To Fraud Win Identity Card Contracts - Bid won by Smartmatic, investigated for fraud, tax evasion in US
Markets: Stocks: Bolsa bellwether IPC Index up 1.92% in midday trade to 31,031.41 points; volume at 1130am of 71,661,985 shares traded
Markets: FX: Benchmark 48hr interbank sell-rate strengthens 0.6% by midday Fri to 12.9299 pesos/US$ from 13.0070 Thu close
Banxico: Central bank votes to leave benchmark overnight interbank interest rates at 4.50% at monthly monetary policy meeting
26 November 2009
Editorial Universal: New data on rising poverty levels are alarming; govt right to talk of prioritizing, but there has been no policy action
Top Story Universal: Water To Rise, Subway Tickets No - 2010 Federal District to propose 2% green tax on H2O plus 10% surcharge Feb-May
Editorial Jornada: Calderon Administration talking the talk on poverty reduction, but not walking the walk; policies have worsened poverty
Top Story Jornada: Time To Get Social Policy Back On Track: Calderon - President says poverty reduction now top priority of administration
Top Story Reforma - Water Rates To Rise 10% - On top of annual fee hikes a 10% surcharge from Feb-May to hit Federal District due to drought
Top Biz Story Reforma: Q3 FDI Of -US$637mln - Net balance of foreign direct investment is negative for first time since at least 1960
Top Story Financiero: Foreign Exchange Flows Plunge - From Jan-Sep, inflows of US$55.8bln off 38% from same period of 2008
Top Story Economista: FBI Probed Smartmatic - Tax suspicion fell on firm that will deploy biometrics in new Mexican national identity cards
Top Story Excelsior: Piracy Feeds Organized Crime: Industry officials say money spent on counterfeit goods bankrolls narco, kidnapping gangs
Top Story Milenio: Get Social Policy Back On Track: Calderon - President says time has come for radical moves to eradicate poverty
Top Story Cronica: Charting A Course For Mexico - Group of leading intellectuals propose new course for country, restructuring whole system
Markets: Stocks: Bellwether IPC Index -2.32% to 30,636.13 points in midday trade; low volume trade of 29,435,786 shares recorded by noon
Markets: FX: Benchmark 48hr interbank sell-rate weakens to 13.000 pesos/US$, 1.19% softer than Wed close of 12.8470
25 November 2009
Inegi: Q3 GDP at current prices at MXN11,995,339tln; 3.8% agriculture; 35.7% industry (manufacturing 18.2%); 62.3% services (retail 14.5%)
Editorial Universal: Though battle over telecom spectra lost by Los Pinos in Supreme Court ruling, the real culprit was shoddy legislation
Top Story Universal: Counterfeiting Twice As Large As Narco - Piracy market seen at US$75bln v. US$40bln for drugs, AmCham study finds
Editorial Jornada: Mexican Electric Workers Union has not lost faith in fight against closure of LFC state utility; its strength still grows
Top Story Jornada: Elias Ayub Begs Off On CFE Bribery Case - CFE head notes that US justice investigation began 2yrs before he took office
COREX: Top Story Reforma: Union Opacity OK'd - Federal court rules that spending of union dues private, not subject to Fed Transparency Law
COREX: Top Biz Story Reforma: G. Ortiz Finds Backing - Bankers, analysts, foreign & domestic support another 6yr term for central bank head
Top Biz Story Reforma: Union Opacity OK'd - Federal court rules that spending of union dues private, not subject to Fed Transparency Law
Top Story Financiero: Lack Of Leadership On Reforms - Fitch downgrade underscores failure of govt, Congress to pass crucial reforms: IMCO
Top Story Excelsior: 88% Buy Pirated Goods - 88% of consumers buy counterfeit; losses amount to MXN964bln en 2009
Top Story Cronica: Federal Police Opens Modern Intelligence Center - At inauguration, Calderon appeals to officers to resist infiltration
Markets: Stocks: Bellwether IPC Index up slight 0.67% to 31,168.57 in early trade; volume at 1030am of 43,933,118 shares
Markets: FX: 48hr interbank sell-rate trading at 12.9053 pesos/US$ in early Wed, flat with Tue close; strengthened after Fitch downgrade
Arrests of undocumented immigrants along the California-Mexico border declined 25% YTD amid weak US economy, tougher enforcement: US CBP
24 November 2009
Inegi: National unemployment rate falls to 5.78% of workforce in Oct v 6.03% in Sep on seasonally adjusted basis; annual trend at 5.90%
Inegi: Urban unemployment rate grows to 7.27% of workforce in Oct v 7.20% in Sep on seasonally adjusted basis; annual trend at 7.18%
Inegi: Total imports -18.4% in Oct on m/m, seasonally adj., annualized basis to US$19.5bln; annual trend rate +16.0%
Inegi: Intermediate manufacturing imports -4.9% in Oct on m/m, seasonally adj., annualized basis to US$14.5bln; annual trend rate +25.0%
Inegi: Consumer goods imports -14.7% in Oct on m/m, seasonally adj., annualized basis to US$2.7bln; annual trend rate +5.5%
Inegi: Capital goods imports -16.8% in Oct on m/m, seasonally adj., annualized basis to US$2.5bln; annual trend rate +17.2%
Inegi: Total exports +104.9% in Oct on m/m, seasonally adj., annualized basis to US$20.5bln; annual trend rate +40.8%
Inegi: Total non-petroleum goods exports +60.4% in Oct on m/m, seasonally adj., annualized basis to US$17.1bln; annual trend rate +22.9%
Inegi: Total petroleum exports +219.5% in Oct on m/m, seasonally adj., annualized basis to US$2.90bln; annual trend rate +93.3%
Inegi: Total manufactured goods exports +39.5% in Oct on m/m, seasonally adj., annualized basis to US$16.3bln; annual trend rate +31.5%
Editorial Universal: Authoritarianism of past partly upheld by govt control of media via concessions; Supreme Court has put an end to that
Top Story Universal: Executive Branch Can't Decide Concessions - Supreme Court rules autonomous Federal Telecom Commission has the power to
Top Story Jornada: Fitch Downgrades Mexico - Ratings firm reduces sovereign debt grade from BBB+ to BBB; still investment grade score
Top Story Financiero: Fitch Lowers Mexico Rating - Structural and fiscal weakness led Fitch to reduce Mexico's national risk rating to BBB
Top Story Economista: Ratings Downgrade Already Priced In - Fitch's one-step reduction of Mexico sovereign rating to BBB widely anticipated
Top Story Excelsior: Mexico Loses Investment Shine - Fitch Ratings Knocked country's sovereign debt grade from BBB+ to BBB on economy, oil
Top Story Milenio: Court Strips SCT Of Concessions - Govt may not issue rules on spectrum concessions, aegis of Federal Telecom Commission
Top Story Cronica: Court Hands Reverse To Calderon, SCT - Supreme Court rules president, Communications Ministry may not award RF spectrum
23 November 2009
ALERT: Fitch Ratings lowered Mexico a notch, cites economic crisis, lower oil output; rating now at BBB, 2 ranks above junk; outlook stable
Inegi: Wholesales Index +14.00% on month-to-month, seasonally adjusted, annualized basis in Sep; annual trend rate at +7.42%
Inegi: Retail Sales Index -3.11% on month-to-month, seasonally adjusted, annualized basis in Sep; annual trend rate at -3.00%
Editorial Universal: Amid fierce crisis, it's in vogue to criticize our economic model; where are the affirmative alternative proposals?
Top Story Universal: A/H1N1 Influenza Vaccinations Begin - First batch of 650k doses to arrive today; will go to most vulnerable populations
Editorial Jornada: Most of the media has steadily attacked AMLO, but call to open the industry responds not to revenge but to transparency
Top Story Jornada: Democratizing TV, Radio Vital: AMLO - At rally marking 3yrs of resistance, Lopez Obrador urges defeat of 'mafia of power'
Top Story Reforma: Mexico Exports Drivers - In past 5yrs, at least 150,000 Mexican truck drivers have migrated to US to fill driver deficit
Top Biz Story Reforma: Compatriot Power Measured - Mexicans working in US pay twice in taxes what they send home to Mexico
Top Story Financiero: Mexico Vulnerable To New US Downturn - Signals from neighbor economy unclear, a concern for Mexican growth prospects
Top Story Economista: Unchecked, 14% of Spending Budget - State, municipalities to get MXN442bln in federal funds without earmarks, audits
Top Story Excelsior: Highway System To Grow 15% - 2010 expenditure budget could significantly expand nation's state and interstate highways
Top Story Milenio: Former Napo Operator Staging Coup - Carlos Pavon, right-hand man of Miner Union leader Napoleon Gomez, now wants his job
Top Story Cronica: Covian Paid MXN500k To 'Aviators' In 2mos - Mexico City electoral judge Covian hired, paid 10 workers that never worked
Markets: Stocks: Bellwether IPC Index up 1.5% in early trade to 31,126.35; share volume at 47,694,540 at 10:30am
21 November 2009
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Top Story Universal: WHO Reports Aggressive Mutation of A/H1N1 Influenza - New strains of swine flu surface in Norway
Editorial Jornada: The commemoration of the 99th anniversary of the Mexican Revolution is a reminder that neoliberal policies have betrayed
Top Story Jornada: Put An End To Official Obscurity: John Womack - Historian, receiving award, says modern Mexico requires govt transparency
Top Biz Story Reforma: GDP (unadjusted) contracts 6.2% in Q309 year-on-year; economy has lost MXN1.5tln in one year of shrinkage
Top Story Reforma: Mega-Salaries Untouched - In 2010 Federal Budget, many cuts made, but not to the huge pay enjoyed by top officials
Top Biz Story Reforma: Services Drive Recovery - GDP (adjusted, annualized) grew 2.9% in Q309, led by services +4.0%; industry +2.1%
Top Story Excelsior: No More Flu Vacations: Education Ministry - Winter school vacation schedule will not be modified even if A/H1N1 spreads
Top Story Cronica: Calderon Favors 'Changing What Needs To Be Changed' - President wants profound reforms to honor anniversary of revolution
Top Story Milenio: Calderon Invokes Peaceful Revolution - Mexico needs a new revolution, with deep-reaching changes; it should be pacific
20 November 2009
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Inegi: Sep GDP proxy, the IGAE, +2.8% in Sep v -4.7% in Aug on seasonally adjusted, annualized basis; annual Sep trendline at +2.6%
Inegi: Q309 GDP +12.2% on a seasonally adjusted, quarter-to-quarter, annualized basis; Q209: -1.1%; Q109: -23.4%; Q408: -9.3%; Q308: +0.2%
Inegi: Q309 GDP +12.2% on a seasonally adjusted, quarter-to-quarter, annualized basis; snaps three straight quarters of contracting output
Editorial Universal: Deep recession, slow recovery signs Mexico needs better domestic demand; politically we lack consensus to create it
Top Story Universal: Mexico Is Poverty Leader: Eclac - UN commission says LatAm poverty rates fell in 2006-2008 in every country but Mexico
Editorial Jornada: Govt fiery rejection of criticism by Nobel economist Stiglitz reveals its stubborn refusal to re-assess market economics
Top Story Jornada: Mexico Saw Worst Poverty Increase In LatAm - Eclac study finds poverty, inequality grew most in Mexico in 2009 in LatAm
Top Story Reforma: First Job Program Scotched - Govt, Congress quietly kills program to subsidize companies hiring young, inexperienced
Top Biz Story Reforma: Looking To Drum Up Investment - Mex govt reps in New York presenting US$226bln in projects planned for next 3yrs
FinMin: Mexico Had Little Choice Amid Crisis - Nobel economist Stiglitz criticizes govt policiy; Carstens says right path taken amid choices
Top Story Economista: Business To Monitor Public Spending - Umbrella business organization group CCE to form institute to audit expenditures
Top Story Excelsior: OECD: 2 More Yrs Of Joblessness - Organization says high unemployment to persist 2+ years in Mexico, may stunt recovery
Top Story Cronica: ECLAC Urges Social, Fiscal Pact In Mexico - UN commission calls for new 'fiscal pact with more social viability'
Top Story Milenio: Mexico Offers US$226bln In Public Works In NY - FinMin Carstens heads presentation to investors that details 480 projects
Markets: FX: Benchmark 48hr interbank sell-rate slips 0.39% to 13.1035 pesos/US$ in midday trade Fri v. Thu close of 13.0530
19 November 2009
Markets: Stocks: Bellwether IPC index down 1.09% to 30,718.14 in early trading; volume at 52,937,239 shares by 10am
18 November 2009
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Editorial Universal: Perversely, Mexico's new democracy has removed certain authoritarian checks on corruption; the authorities are to blame
Top Story Universal: Corruption Shoots Up In Mexico - Country fell on global Corruption Perceptions Index to 89th place from 72 last year
Editorial Jornada: MXN3.2tln 2010 federal budget hijacked by the PRI thanks to electoral successes; PRI-governed states benefited the most
Top Story Jornada: Domestic Debt Grows MXN1bln Per Day - Calderon administration has set a new record with growth of domestic debt
Top Story Reforma: Mexican Corruption Worsens - Corruption Perceptions Index ranks country in 89th place among nations, -17 spots from 2008
Top Biz Story Reforma: Food Sales To US Resist Crisis - Exports +6.4% through first 3 quarters y-y, only slightly off +8.6% recorded in 2008
Top Story Financiero: Mexico's Vulnerability Grows - Moody's says lack of public finance reform reducing margin against external shocks
Top Story Economista: Federal Expenditure Plan Step Back For Transparency - PAN says will seek legal means to force accountability by states
Top Story Excelsior: Deputies Tie Los Pinos' Hands - Within 2010 Federal Budget, Congress voted to require a 3yr austerity plan from feds
Top Story Milenio: PAN Confronts Federal Funds For States - Senators object to removal of spending locks, will seek court challenges
Top Story Cronica: 2010 Expenditure Plan Irks PAN - PAN Caucus in Senate angered by removal of spending locks on federal funds for states
Banxico: Central bank releases to public new loan Total Annual Cost (CAT or APR) calculators; credit cards http://ping.fm/9vQzY mortgages http://ping.fm/pcjAb other http://ping.fm/GXPoL
Markets: Stocks: Bellwether IPC index down 0.69% in midday trade to 31,183.31 v. 31,400.20 close Tue
Markets: Peso: Benchmark 48hr interbank sell-rate firms 0.31% in midday trade to 13.0173 pesos/US$ v. 13.0580 close Tue
17 November 2009
Editorial Universal: So-called federal deputies have local interests; PRI deputies clearly fought to keep fed funds for states unaccountable
Top Story Universal: Chamber Gives Free Hand To States - Locks on 2010 federal budgetary funds undone in final spending plan
Top Story Jornada: Governors Big Winners In 2010 Budget - Federal spending will be subject to new controls, but state funds spent at will
Top Story Reforma: Governors Come Out Winners - In final 2010 federal budget, now approved, state funds were hiked MXN6bln, a 50%+ increase
Top Biz Story Reforma: Earning Unauthorized Income - Debt-laden Mexicans turning to new kind of business -- unregulated credit restructuring
Top Story Financiero: MXN97bln Expenditure Adjustments - After tweaks, Chamber of Deputies approves 2010 spending budget in early hours Tue
Top Story Economista: Locks Removed From State Funds - Requirements such as spending on mandated joint state-fed projects killed by Congress
Top Story Excelsior: Ministries Can Take A Breath - Deputies agree to fund in 2010 the 3 ministries Los Pinos had proposed dismantling
Top Story Milenio: MXN9bln More Funding For Higher Ed - Part of MXN14bln 2010 spending hike, deputies slated MXN9bln more for universities
Top Story Cronica: MXN17bln From LFC Rebudgeted To Schools, Ag - After adjustments, Chamber Budget Committee approves 2010 spending plan
Markets: Stocks: Bellwether IPC index up 0.69% to 31,216.16 in midday trade; volume as of 1030am at 73,935,189 shares
Markets: Peso: 48 interbank sell-rate at 13.0643 pesos/US$ in midday trade, 0.03% firmer than Fri close of 13.0680 (Mon was a mkt holiday)
16 November 2009
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NOTE: Today is a market and federal holiday in observance of Revolution Day; Economista & Financiero not published; no indicators due out
Editorial Universal: Mexico slips into shadows of LatAm; we thought democracy would bring prosperity, but ruling class is still in place
Top Story Universal: Mexico Loses Leadership Of LatAm - Chile, Brazil and Panama are now more competitive as Mexico squanders potential
Top Story Jornada: PRI, PAN, FinMin Manipulate, Control Budget - Ruling party PAN and leading opposition PRI seize combine to control vote
Top Story Reforma: The Battle Over Fallow Resources - Congressional struggle over funds intensifying each yr, though monies often not spent
Top Biz Story Reforma: Used Car Sales Rise - As new car sales fall amid crisis, used car dealers forecast y-o-y increase of 15% for 2009
Top Story Excelsior: Country Without A Budget - Legal deadline for 2010 Federal Budget approval passes without a congressional vote
Top Story Milenio: Coalition Forms To Oust Esparza - Former head of Electric Workers Union Jorge Sanchez registers aims to be new SME boss
Top Story Cronica: Budget Breakthrough: MX22.6bln In Additional Farm Funds - Budget poised for approval after FinMin caves to PRI ag demands
Markets: Peso: 48hr interbank sell-rate benchmark firms slightly -- 0.03% -- to 13.0643 pesos/US$ v Fri close of 13.0680
15 November 2009
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Top Story Universal: Narco Financial Structure Intact - Govt war on drug cartels fails to attack finances, thus doomed to failure overall
Top Story Jornada: Some 500 Neighborhoods In Mexico City Without Water After Failure - Pipe bursts, outage to last until Monday, at least
Top Story Reforma: Mexico City Alcohol Abuses Raises Alarm - Youth binge drink on rise; more than half of teens consume 5+ drinks at parties
Top Story Excelsior: 6 of 10 Social Programs Fail - Natl Council of Social Development Policy Evaluation says federal programs not working
Top Story CRONICA (Corex): PRI Takes Budget Approval To Extreme - PRI froze talks again; farmer "wing" of party demands MXN13bln more funds
Top Story MILENIO: PRI Subdues PAN; Together They Override PRD - In budget talks, PAN bending to PRI demands; PRD charges Congress kidnapped
Top Story Cronica: PRI Subdues PAN; Together They Override PRD - In budget talks, PAN bending to PRI demands; PRD charges Congress kidnapped
13 November 2009
Inegi: Quarterly Employment Stats: Informal rate rises to 28.31% in Q309 v. 28.01% in Q209 and 27.26% in Q308 on a seasonally adjusted basis
Inegi: Quarterly Employment Stats: Joblessness rate rises to 5.97% in Q309 v. 5.51% in Q209 and 3.98% in Q308 on a seasonally adjusted basis
Editorial Universal: Enough Is Enough! is the new campaign by Alianza Civica NGO to reduce lavish funding for political parties; time is now
Top Story Universal: Deputies Slash MXN1bln From ProArbol - Lawmakers shave funding from federal reforestation program; will reassign monies
Editorial Jornada: CFE announcement to spent MXN5bln over 2yrs to improve power grid in central region reveals hypocrisy of LFC closure
Top Story Jornada: Calderon Chides Business For Undermining Tax Plan - Presidents blames private sector for failure of Los Pinos proposal
Top Story Excelsior: Calderon Blames Business For Fiscal Failure - President says deliberate campaign weakened and eroded his tax proposal
Corex: Top Biz Story Reforma: Brazil Stalks Mexico: Brazil credit rating may be upgraded, while Mexico faces downgrade: JP Morgan
Corex Top Story Reforma: SNTE Misuses Funds - Sinaloa chapter of National Education Workers Union spent MXN720mln to build convention center
Top Biz Story Reforma: SNTE Misuses Funds - Sinaloa chapter of National Education Workers Union spent MXN720mln to build convention center
Top Story Financiero: At The Limit, 2010 Budget Talks - Lawmakers again postponed talks on federal expenditures; legal deadline Nov 15
Top Story Economista: Business Halted Tax Package: Calderon - President rails against private sector lobby for watering down tax proposals
Top Story Milenio: Private Sector Leaders Blew Tax Program: Calderon - President accuses lobbying campaign of crushing 2% poverty tax
Top Story Cronica: Private Sector Lobby Weakened Tax Program: Calderon - President says private sector eroded tax reforms through criticism
Markets: FX: 48-hour interbank sell rate at 13.1786
pesos/US$ in early trade Fri, 0.04% firmer than Thu close of 13.1840
Markets: Stocks: Bolsa bellwether IPC index down slight -0.06% in early trade at 30,740.44; volume of 9,752,336 shares
12 November 2009
INEGI: Sep seasonally adjusted, annualized IP/Manufacturing 9.23% v. -17.93% in Aug -- annual trend rate 7.36%
INEGI: Sep seasonally adjusted, annualized IP/Construction -13.70% v. -28.65% in Aug -- annual trend rate -6.74%
INEGI: Sep seasonally adjusted, annualized IP/Mining 1.86% v. 14.09% in Aug -- annual trend rate 2.50%
INEGI: Sep seasonally adjusted, annualized IP/Gas, Water, Power 5.96% v. 12.24% in Aug -- annual trend rate 4.42%
Markets: Stocks: Bolsa IPC Index bellwether up slight 0.05% in early trade to 31,113.21; volume 27,804,033 shares traded
Markets: FX: Peso at 48-hr interbank benchmark sell rate weakens 0.19% in early trade Mon at 13.1724
v. 13.1480 close Fri
Editorial Universal: Mexico needs to systematically measure, diagnose, and adjust public expenditure, which currently is disbursed blindly
Top Story Universal: Demands To Halt Subsidies Of ProArbol, Procampo - Various experts say farm assistance programs need audit, reworking
Editorial Jornada: Historic convergence of labor and other civic groups to protest closure of LFC utility will force govt to reverse stance
Top Story Jornada: We Are Ready For National Strike: SME - Electric Workers Union has gained enough momentum to paralyze nation, SME says
Top Story Reforma: Mexico City Gridlocked - Though protest turnout was small, SME and other unions managed to disrupt traffic in city
Top Biz Story Reforma: Inflation Punishes Purchasing Power - Nominal price rises have outstripped average salary hikes for past 19mos
Top Story Financiero: Ave Growth Of 2% Over 20yrs: BBVA - Bank says poor use of resources, population changes to restrain GDP over 20yrs
Top Story Economista: CFC Defanged - Federal Competition Commission faces cuts in real terms of 11% of budget in 2010, further weakening org
Top Story Excelsior: PAN, PRI Squabble Over Opportunidades Funds - Opposition wants to shift some federal welfare program monies to states
Top Story Milenio: SME Scales Demands - Mexican Electric Workers Union calls for resignation of Labor Minister Lozano, talks with Senate
Top Story Cronica: SME Loses Steam; Cancels March - Mexican Electric Workers Union national strike, Mexico City march fizzle out
11 November 2009
INEGI: Sep Gross Fixed Investment (GFI) Indicator +9.8% on seasonally adjusted, annual basis v +7.9% in Aug -- Annual trend at -4.1% in Sep
INEGI: Sep GFI Machinery & Equipment Indicator +19.9% v. +13.6% in Aug -- Annual trend at -4.9% in Sep
10 November 2009
Inegi: Revised data: Sep trade balance of -US$1.1bln -63.4% y/y; YTD deficit of US$4.3bln -51.6% y/y
Inegi: Revised data: Sep consumer goods imports of US$3.1bln -30.5% y/y, v. YTD US$23.0bln -36.8% y/y
Inegi: Revised data: Sep manufactured goods exports of US$17.4bln -17.3% y/y, v. YTD US$134.6bln -24.0% y/y
Editorial Universal: Deployment of US Air Force along US-Mex border makes sense given ease of smuggling there; but respect for Mexico vital
Top Story Universal: US Air Force To Patrol Border - US Dept of Defense plans high-tech flyovers, coordination with DEA & FBI on smuggling
Editorial Jornada: Declarations at Mexican Business Summit reveal business and other leaders have grown to repudiate free-market economics
Top Story Jornada: Mexican Economic System Exhausted: Gonzalez Barrera - Billionaire says govt policy needs long-term focus, higher growth
Top Story Reforma: Yes To Cuts -- Across The Board - FinMin OKs PRI proposal to slash funds, but says must come from govt, Congress, states
Top Biz Story Reforma: Salvation Of 3 Ministries Bashed - Business leaders rue Senate decision to scrap closure proposal, will cost MXN9bln
Top Story Economista: Education Committee Asks For MXN20bln Increase - Lower-house lawmakers seek funds from other areas to stave off cuts
Top Story Financiero: Recovery Won't Be Fast Or Easy - After contracting 7% in 2009, 2.7% growth in 2010 means economy will recovery by 2011
Top Story Milenio: US Urges Cooperation On Narco - US Ambassador Carlos Pascual says Mexican army can't fight the fight alone
Top Story Excelsior: Calderon Proposes Reining In Monopolies - President says competitiveness will only increase with limits on monopolies
Top Story Milenio: Calderon Proposes Reining In Monopolies - President says competitiveness will only increase with limits on monopolies
Banxico: Quarterly financing survey shows 22.1% of companies used credit in Q309 v. 27.0% in Q209 and 30.2% in Q308
Markets: Peso benchmark 48-hr interbank sell rate trading 0.6-percent weaker at 13.3360 pesos/US$ in early trade Tue v. Mon close of 13.2560
09 November 2009
Editorial Universal: Govt wants to spend MXN1bln to restore Cancun sands after Hurricane Ida, but past experience shows the futility of that
Top Story Universal: 92% Of Spending Earmarked - Citing prior commitments, FinMin less than 8% of expenditure budget truly discretionary
Top Story Jornada: Slim Convokes Nation To Avoid 'Sacrifice' Of Generations - Billionaire bashes govt fiscal, monetary policy, urges jobs
Top Story Reforma: SNTE Commissioners Multiply - Number of paid union commissioners for National Education Workers nearly doubles in 1yr
Top Biz Story Reforma: Interior Ministry Operates Gambling & Lottery In Shadows - The handling and destination of prizes lack transparency
Top Story Financiero: Fragile Economy In 2010 - Federal Budget lacks pro-cyclical impulse; economy seen insipid next year
Top Story Economista: States To Cut Spending - With inadequate funding from 2010 Federal Budget, state govts facing austerity, cutbacks
Top Story Milenio: States Seek MXN280bln; Only MXN6bln On Offer - Opposition to cut MXN50blnto MXN80bln from fed budget, slate it for states
Top Story Cronica: Ex-SME Workers Rehired Starting Today - Former Luz y Fuerza union electricians to work for Federal Electricity Commission
Top Story Excelsior: Businesses Call For Action - At Mexico Business Summit in Monterrey leaders criticize country's lack of competitiveness
Banxico: Consumer price index rises 0.30% in Oct; annual inflation at 4.50% v. 4.89% in Sep; core rate rises 0.29% to 4.90% v. 4.92% in Sep
Markets: Benchmark 48hr exchange sell rate at 13.3960 pesos/USD; 0.06% weaker than Friday close of 13.3873
08 November 2009
Top Story Universal: Govt Loots Resources: Experts say that though Mexico's expenditure is low % of GDP, resources used very inefficiently
Top Story Reforma: PGR Pulls Cases Fruitlessly - When Federal Attorney General asserts jurisdiction over local cases, likely to go unsolved
Top Story Jornada: Alert In Mexican Caribbean - Ida reaches hurricane status, 100km from Cozumel, seen passing between Mexico and Cuba
Top Story Excelsior: NL Gov: No To "Cleaning Squads" - Nuevo Leon head says will not support municipally backed vigilante anti-crime groups
Top Story Cronica: Telephone Workers To Strike In Support Of SME - Phone union to stage 24hr strike in support of Mexican Electric Workers
Top Story Milenio: PRI Saved Mexico From 2%: PRI - Though VAT raised by 1%, PRI lawmakers blocked application of 2% to foods and medicines
07 November 2009
Top Story Universal: Social Strategy Ineffective: PRI, PRD - Opposition proposes expenditure changes in Chamber Social Development Committee
Top Biz Story Universal: Analysts Warn: 2010 Tough Yr For Employment - High joblessness to persist through Q210, experts say
Top Story Jornada: SME Wins Injunction Against Closure Of LFC - Electric Workers Union prevails; federal labor board may not end contract
Top Biz Story Jornada: Budget To Raise 2010 Inflation: Analysts - Banamex survey reveals forecast consensus hike from 4.2% to 4.5% on budget
Top Story Reforma: Resistance To Closure Of 3 Ministries - Opposition seek to halt closure of Agrarian Reform, Tourism, Public Function
Top Biz Story Reforma: Idesa, Braskem Win 'Etileno XXI' - Pemex awards Mexico's Idesa and Brazil's Braskem the US$2bln petrochem project
Top Story Excelsior: Mayor Seeks Private Funding For Commando - Head of wealthy Garza Garcia seeks company donations to fund vigilante group
Top Story Cronica: 50.2% Of Electric Workers Accept Severance - Govt says thru Fri more than half of union had acceded to severance terms
Top Story Milenio: Narcos Flee Garza Garcia: Mayor - Wealthy neighborhood's top official says sanctioned private vigilante groups working
INEGI: Composite Indicators; Leading Index= 108.4 (2003=100) Aug vs. 108.2 points in Jul -- 0.18% on month
INEGI: Composite Indicators; Current Index= 96.4 (2003=100) Aug vs. 97.8 points in Jul -- -1.43% on month
COREX: INEGI: Oct Consumer Confidence: Perceptions of national situation one year from now 88.0 v. 90.9 in Sep ; -6.0% v. 12mo high
COREX: INEGI: Oct Consumer Confidence: Perceptions of national situation v. one-year ago 73.1 v. 77.2 in Sep ; -10.0% v. 12mo high
COREX: INEGI: Oct Consumer Confidence: Perceptions of household situation one year from now 90.9 v. 92.1 in Sep ; -7.4% v. 12mo high
COREX: INEGI: Oct Consumer Confidence: Perceptions of household situation v. one-year ago at 85.0 v. 85.7 in Sep ; -8.9% v. 12mo high
INEGI: Oct Consumer Confidence: Possibility of making big-ticket purchase 66.4 v. 62.7 in Sep ; -19.5% v. 12mo high
INEGI: Oct Consumer Confidence: Perceptions of national situation one year from now 93.0 v. 90.3 in Sep ; index now at 12mo high
INEGI: Oct Consumer Confidence: Perceptions of national situation v. one-year ago 77.9 v. 77.5 in Sep ; -9.5% v. 12mo high
INEGI: Oct Consumer Confidence: Perceptions of household situation one year from now 98.7 v. 92.7 in Sep ; Oct index at 12mo high
INEGI: Oct Consumer Confidence: Perceptions of household situation v. one-year ago at 89.93 v. 87.24 in Sep ; -6.23% v. 12mo high
Editorial Universal: Govt-backed vigilante groups destined to become mired, eventually, in criminal activities of their own
Top Story Universal: Carstens Denounces 'Accountant Army' - FinMin says govt confronting active tax evasion by corporate tax strategists
Editorial Jornada: Calderon may say recession over, but that clashes with the reality of the joblessness, weak sales, and consumer pessimism
Top Story Jornada: Recession Reaches End, Says Calderon - Clear signs of recovery amid growth policies that are "difficult", "misunderstood"
06 November 2009
Top Story Reforma: Spending In The Shadows - Govt expenditure budget negotiated behind closed doors, lacks transparency: experts
Top Biz Story Reforma: Auto Parts Makers Eye Local Sourcing - Industry says US$28.4bln in auto parts imports could be made in Mexico
Top Story Excelsior: Recession Cedes, But Confidence Sags - Calderon says Q3 GDP +2.8%, but Oct Consumer Confidence Index fell to record low
Top Story Economista: Recession At End: Calderon - President says recession is behind us, despite poor consumer confidence, jobs reports
Top Story Milenio: 15k Businesspeople fled DF - In 2yrs, violence, kidnappings, extortion prompted 15k businesspeople to leave Mexico City