BANXICO: In March, outstanding consumer credit at MXN410bln (+9.3%); mortgages at MXN370bln (+5.8%); business loans at MXN974bln (+10.5%)
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29 April 2011
BANXICO: In March commercial bank financing +11.4% to MXN2.778bln; financing to private sector was 71%, MXN1.971bln, +7.7%
Front Page Universal: State, Security Reform Bills Stalled - Deputies shunts senate bills to committees as final day of spring period ends
Front Page Milenio: Calderón: Violence Threatens Democracy - President, on S. America tour, calls on governments to strengthen institutions
Front Page Financiero: Senate Approves Antitrust Law - Reform includes possible prison terms of 3-10 years for monopolistic practices
Front Page Economista: Senate Passes Antitrust Law - Reform of Federal Competition Law OK'd by Senate, gives CFC agency enforcement teeth
Front Page Reforma: Change Postponed - Last chance for big reforms w/2012 election static rising, spring legislature ends w/little to brag
28 April 2011
#BANXICO: Senate approves Calderón nominee Manuel Ramos Francia to central bank board of governors; term lasts through end of 2018
#INEGI: Global Economic Indicator (IGAE): Monthly GDP proxy services sub-index +11.2% in Feb on seas adj, annualized basis; YTD +5.1%
#INEGI: Global Economic Indicator (IGAE): Monthly GDP proxy industry sub-index +8.4% in Feb on seas adj, annualized basis; YTD -4.3%
#INEGI: Global Economic Indicator (IGAE): Monthly GDP proxy agriculture sub-index -41.1% in Feb on seas adj, annualized basis; YTD +20.9%
#INEGI: Global Economic Indicator (IGAE): Monthly GDP proxy +3.5% in Feb on seas adj, annualized basis; YTD +7.6%
#INEGI: Prelim Trade Data: Mar imports -0.1% m/m in Mar on seas adj basis; YTD annualized rate of +20.2% in dollars, strong peso lowers cost
#INEGI: Prelim Trade Data: Mar exports +0.38% m/m in Mar on seas adj basis; YTD annualized rate of +31.8%, boosted by strong oil prices
Front Page Economista: Mayoral Reelection In Reform - Among many items of State Reform, municipal presidents could run for reelection
Front Page Financiero: PAN Shelves Possible Electoral Alliances In Coahuila, Nayarit - Party says PRD could not deliver on its commitments
Front Page Jornada: Senate Gives President Budget Veto Power - State reform includes measure to allow Los Pinos to veto appropriations bill
Front Page Universal: State Reform Passes Senate - Constitutional overhaul passed upper-house after nine hour marathon
Front Page Milenio: Calderón Assumes Costs Of Drug War - Security spokesman Poiré says negotiating a modus vivendi truce never an option
Front Page Reforma: PRIistas Clash - Internal partisan disputes as members of the PRI jockey for presidential candidacy have stalled reforms
25 April 2011
4 women and 14-yr-old girl found brutally murdered in Acapulco; all 5 worked at same beauty salon; motives unknown
FinMin: Peso may weaken on tighter US money: Cordero; 'superpeso' has strengthened to levelsl from October 2008, now at 11.62/US$
Cartel gunmen raided Tamaulipas border city of Miguel Aleman, tossing grenades and burning down 3 car dealerships, stores, and gas station
Three interstate buses on Tamaulipas highways were strafed with gunfire in separate attacks over the weekend, wounding three
Antitrust agency CFC affirmed fine of $1bln for Telcel mobile carrier; says used market position, interconnection fees to hurt competitors
Front Page Universal: Job Growth, But Low Quality - YTD 271,235 new formal jobs in private sector; only half earn more than 2x min wage
Front Page Reforma: Gas Stations Rob 10% - Economy Ministry estimates consumers shorted 9.5% at the pump on average, = MXN50bln per yr
21 April 2011
Front Page Excelsior: Cd Juarez Officials Urge Guard Dogs - City says vacationers this wkend should leave guard dogs in house, set alarms
Front Page Reforma: Federal Police Rescue 68 Kidnapped Travelers - Agents stumble upon safehouse in Reynosa; victims snatched from buses
20 April 2011
#BANXICO: Core inflation index +0.05% to 3.19% annualized in first 2wks of Apr, but surging tortilla prices drive food sub-index up to 5.91%
#BANXICO: Consumer price index -0.09% in first 2wks of Apr to 3.21% annualized; drop due to seasonal electricity rate subsidy in north
Front Page Cronica: Economy Dep Min Maron Manzur says financing for small businesses up 400% in 4yrs; 320k firms receive credits
#INEGI: Open Unemployment Rate: Joblessness at 5.09% in Mar on seas adj bases, -0.12% from Feb; urban unemployment falls from 6.09% to 6.02%
Front Page Universal: 1,000 Migrants Rescued In 2mos. - Grupo Beta task force saves thousand, renders assistance to 35k transmigrants
Front Page Excelsior: Senate Pays MXN60mln For Oversight Of New Building... And It Floods - New legislative hall rife with problems
Front Page Economista: Pessimism Rules - Study shows 68% of Mexicans think world is worse off than 10yrs ago and 50% see it worse in 10 more
Front Page Reforma: Absentee Deputy Condemns Abstention - PANAL President and Fed Deputy Jorge Kahwagi proposes bill for compulsory voting
19 April 2011
#BANXICO: Monetary base +MXN10.519bln week ending Apr 15 to MXN641.981bln, or y/y increase of 10.7%. YTD monetary base -MXN51.442bln
MUST READ: Out Of The Frying Pan Into The Fire - Wealthy business emigrants failing in the U.S. http://ping.fm/bZu8m
MUST READ: Out Of The Frying Pan... http://ping.fm/qCehj
MUST READ: Out Of The Frying Pan Into The Fire - Wealthy business emigrants flee violence in Mexico, but failing in the U.S. http://ping.fm/0rX16
Front Page Universal: Govts Clash Over Chalco Flood - Feds, State of Mexico govts point fingers after Chalco suffers 3rd flood in 11 yrs
Front Page Economista: Senate To Pass Competition Reform - Anti-monopoly bill will be voted through after spring break, parties agree
Front Page Reforma: 156 Graves In 5yrs - In 2007 9 clandestine graves were found; so far this year there have been 49; 647 bodies in 5yrs
18 April 2011
El Mitote: I admit it. I was an illegal immigrant. http://ping.fm/vz2CF
El Mitote: http://ping.fm/eg1we
El Mitote: Migrant headache: Mexican entrepreneurs struggle in US http://ping.fm/Doqk9
El Mitote: I admit it. I was an illegal immigrant. I worked under the table; I entered and left the country without proper migration documents; I lied to authori... http://ping.fm/cunIg
Front Page Universal: Federal District On Alert From 'Atypical' Rains - City stops work after flooding sparks fears of sewer system collapse
Front Page Excelsior: US Has 500+ Agents In Mexico - Federal Attorney Gen Office (PGR) confirms more than 500 agents of DEA, CIA, FBI, etc.
Front Page Economista: Telcel To Appeal Historic Fine - Antitrust agency CFC slapped Telcel with a fine of more than US$1bln; firm to appeal
Front Page Reforma: Crime Goes For The Gold - Highway robberies have compelled mining companies to move their gold and silver via air cargo
15 April 2011
#BANXICO: Central bank holds benchmark interest rate at 4.5% at policy meet; cites low wage hikes, strong peso for keeping prices in check
#INEGI: IMMEX Report: Export program employment +8.2% in Jan to 1.8mln; work-hours +10.4% to 349mln; IMMEX revenue totals 199tln pesos
Front Page Universal: Higher Education Tightens Security - New guidelines would create tough security barriers at universities
Front Page Excelsior: President proposes bill that would define conspiracy laws for suspects aiding organized crime to be charged as such
Front Page Economista: Calderón Seeks To Link Narco, Terrorism - Drug trafficking suspects could be charged with range of terrorism crimes
Front Page Reforma: ALDF Limits Supermarkets - FedDist leg body restricts new groceries, strip malls, convenience stores to 2.5% of city
14 April 2011
Front Page Universal: Mexico Mistreats Migrants: US - Inhumane detention centers, abuse, and human rights violations the norm, report says
Front Page Excelsior: Company Closures - 28,000 firms have closed down in 2010, half in Michoacan and Coahuila, 2mln jobs lost
Front Page Financiero: BRIC GDP to surpass US in 2015: IMF - US$18.tbln v. US$17.9tln projected; Mexico to fall to 15th in world
Front Page Economista: Mexico Must Produce 5x As Much - 2.1% productivity growth/yr in 2 decades pales in comparison to other countries
Front Page Reforma: Inmates Govern DF Jails - Natl Human Rts review finds that 'self-government' practices on the rise
11 April 2011
INEGI: Industrial Production Index: IP -4.2% on seas adj annualized basis in Feb to 116.8 from 117.2 in Jan; manufacturing sub-index is flat
Front Page Milenio: Protest Over Return Of Rene Bejarano - PRD factions upset that alleged money launder back on national committee
Front Page Universal: Narcos Invade US - National Center for Drug Intelligence reports cartels are sending families to live across border
Front Page Financiero: Steady Peso Appreciation - Last week, MXN firmed 1.1% to 11.7350 pesos/US$ in spot market, strongest since 10/08
Front Page Economista: Deputies Insist On
Antitrust Reform - Economy Committee cut some Senate changes, restore teeth to original proposal
Front Page Reforma: Edomex Top Transit Cop Incites Corruption - State's Public Safety & Transit Director encourages bribe taking among cops
07 April 2011
BANXICO: Headline inflation at end of Mar dips to 3.04% annual from 3.57% end of Feb; core index stable at 3.21% v. 3.26% in Feb
Front Page Milenio: 7 More Years - Top cop Genaro Garcia Luna said narco violence will begin to subside in 7yrs
Front Page Universal: CNDH Opens Inquiry In San Fernando - Human Rts Commission to investigate slain migrants turning up in Tamaulipas
Front Page Excelsior: 59 Bodies In Tamaulipas - Feds find mass grave in same town where 72 Central American immigrants were found dead
Front Page Financiero: Credit Strengthens - In Senate testimony, cenbank head Carstens argues virtuous circle of credit growth underway
Front Page Economista: We Need 5% Growth: Cordero - FinMin says GDP must maintain better growth levels to develop
Front Page Reforma: The Cry: Enough! - Thousands of Mexicans in more than 20 cities and in 4 outside of MX protest against rising violence
05 April 2011
#INEGI: ConsumerConfidence: Seas adj durable goods purchase sub-index (2003=100): DOWN @ 77.36 in Mar v 78.82 in Feb, -1.8%
#INEGI: ConsumerConfidence: Seas adj state of economy sub-index (2003=100): DOWN @ 90.09 in Mar v 91.79 in Feb, -0.2% (CORRECTED)
#INEGI: ConsumerConfidence: Seas adj state of economy future expectations sub-index (2003=100): UP @ 99.56 in Mar v 99.83 in Feb, +0.7%
#INEGI: ConsumerConfidence: Seas adj state of economy sub-index (2003=100): UP @ 99.56 in Mar v 99.83 in Feb, +0.7%
#INEGI: ConsumerConfidence: Seas adj household welfare future expectations sub-index (2003=100): DOWN @ 100.55 in Mar v 100.65 in Feb, -0.1%
#INEGI: ConsumerConfidence: Seas adj household consumer welfare sub-index (2003=100): UP @ 94.79 in Mar v 94.00 in Feb, +0.8%
#INEGI: ConsumerConfidence: Down: Seas adj headline index (2003=100) @ 92.72 in Mar v 93.06 in Feb, -0.4%
Front Page Sentido Comun: Carlos Slim Sees Wealth Grow 10% - In Q1 net worth balloons to US$82bn as world's richest man races to 100bn mark
04 April 2011
#Banxico: YTD migrant remittances +5.9% to US$3.0bln in Feb, average amt is US$313 v. US$306 same period last year; 2010 remits = US$21.3bln
#INEGI: Manufacturing Orders Index (IPM): Index @ 53.3 in Mar from 52.4 in Feb; >50 signals future growth; new orders -0.5, production +0.4
#INEGI: Producer Confidence Index: PCI down to 51.3 in Mar from 52.1 in Feb; >50 represents future expansion; economy seen strong
Front Page Milenio: Nuevo Leon Now Hiring Cops - State seeks to recruit 1,600 new cops per year from other states amid a local shortage
Front Page Universal: Parties Rally In Edomex - PAN, PRD, PRI flex political muscles in State of Mexico for gubernatorial race
Front Page Financiero: Sinaloa Cartel Laundered US$378bln in US from 2004-2007 - Wachovia Bank transfers funneled funds, pays US$160mln fine
Front Page Economista: Edomex Doubles Budget - Building Hwys, Infrastructure A Good Bet - State revenue grew 90% 2005-2011, spent on roads
02 April 2011
Front Page Universal: Army Blames Narco For Complaints - Ave. of 3 human rts complaints per day against army, brass says narcos behind them
01 April 2011
#BANXICO: Mar Analyst Survey: Economist Confidence Index (1998=100) at 152 in March v. 150 in Feb; now stands at highest level in 3+ years
#BANXICO: Mar Analyst Survey: 2011 GDP growth now seen at 4.25% v 4.10% in Feb survey; 2012 GDP ave estimate at 4.07% in Mar v 4.03% in Feb
#BANXICO: Mar Analyst Survey: Year-end 2011 FX rate seen at MXN12.15/US$ v. 12.23 in Feb; slight depreciation to 12.46 seen by Dec 2012
#BANXICO: Mar Analyst Survey: 21%, 17%, and 52% of analysts see central bank hike benchmark interest rate in Q2, Q3, and Q4, respectively
#BANXICO: Mar Analyst Survey: FY 2011 inflation now seen at 3.92% v. 3.94% in Feb survey; core inflation seen at 3.70% v. 3.65%
Front Page Universal: Calderon Taps Woman For Attorney General - Arturo Chavez steps down, president asks Senate to approve Marisela Morales
Front Page Excelsior: Encinas Contradicts AMLO - Denies AMLO claim that Calderon offered him candidacy of a PAN/PRD alliance in Edomex
Front Page Financiero: Mexico Underbanked: Ortiz - Former central bank chief Guillermo Ortiz says banks strong, capitalized, lack customers