31 August 2011

BANXICO: Q211 financing to non-financial private sector @ MXN4.271tln, or annual real increase +5.9%

INEGI: Construction: Value of construction put in place +4.2% in Jun y/y real terms v. YTD +2.5%

BANXICO: July Aggregates: M1 +9.6% in annual real terms; M4 +8.8% in annual real terms

Front Page Economista: IEPS Hurts Telecom Competitiveness: Cofetel - 3% excise tax on telecom services hinders govt goals, regulator says

Front Page Financiero: December Deadline On China Tariffs - Economy Min Bruno Ferrari confirms that Dec 12 ends countervailing tariffs

Front Page Universal: Casino Must Pay - Casino Royale refuses to compensate families of victims, but federal gambling laws require it

Front Page Milenio: Josefina Taking Off - Pre-presidential poll show Vazquez Mota with 39% preference among PANistas v. 30% for Creel

Front Page Reforma: Brother Of Monterrey Mayor Received Casino Payments - Fernando Larrazabal campaigned against them, brother Manuel took $

29 August 2011

INEGI: Manufacturing Stats: Manufacturing work-hours -0.06% from May to June on seas adj basis; follows strong uptick of 0.46% previous mo.

INEGI: Manufacturing Stats: Headcount at factories remained flat from May to June on seas adj basis; three months now with negative trend

Front Page Financiero: CNBV Preps New Rules - National Bank & Securities Commission wants to curb "bad practices" in industry

Front Page Universal: 2 Arrested For Casino Attack - Nabbed in Monterrey/Escobedo driving stolen car, resisted with shootout

Front Page Milenio: We Back Calderon On Crime: Manlio - Senate PRI Prez Fabio Manlio urges nonpartisan cooperation on organized crime

Front Page Reforma: Two Arrested For Massacre - State and fed authorities announced 2 busts so far in Casino Royale slaughter

26 August 2011

BANXICO: Monetary Meet: Central bank keeps benchmark lending rates at 4.5%, cites lower growth expectations for US, slowing in Mexico

Front Page Economista: FCH Urges Inquiry Into State Debts - President Calderon calls for total review of public debt by state governments

Front Page Financiero: Penal Charges Brought In Debt-Gate - FinMin files criminal charge for "irregular" credit lending to state of Coahuila

Front Page Universal: Nuevo Leon Casino Attacked; 53 Deaths - Six men burst into a gaming and gambling center and set a deadly fire

Front Page Milenio: 53 - Six-member commando storms casino with gasoline, kills 53; place had been attacked before

Front Page Reforma: Innocents Burned Alive - Overcome by suffering and grief, people waited in vain to see family rescued from Casino Royale

ALERT: Shocking attack in Monterrey: http://ping.fm/Na25U

25 August 2011

Front Page Financiero: Portfolio Adjustments Hit Peso - Foreign investors reorganize, peso depreciates 1% yesterday to 12.47

Front Page Universal: Narco-Goods At Bargain Prices - Govt auctions of impounded property: Cell phone $1, Gold ring $3, luxury SUV $1,000

Front Page Reforma: Fewer Families Receive Remittances - From 2006-2010 half million Mexican homes stopped receiving migrant transfers

INEGI: Open Unemployment Rate: National rate stood at 5.27% in Jul v. 5.77% in Jun on seas adj basis; (nonfarm) urban rate @ 6.11% v. 6.33%

22 August 2011

INEGI: GDP: Q2 GDP +4.5% on seas adj, annualized basis; below expectations http://www.facebook.com/notes/el-mitote/mexican-economy-rebound-in-q2/150612568358263

http://ping.fm/2YAoi

The Inegi statistics agency released second-quarter GDP data on Friday showing Q211 GDP +4.5%. Yet economists were disappointed. http://www.facebook.com/notes/el-mitote/mexican-economy-rebound-in-q2/150612568358263

Front Page Economista: Industry Demands Action On Economy - Business class says slowdown pushing in from U.S., Euroland, demand govt action

Front Page Excelsior: New Budget Battle - PRI Wants To Trim Executive Branch - PRI deputies target MXN110bln in federal publicity spending

Front Page Milenio: Parties Receive Record Monies For 2012 - Public funding for political parties calculated at MXN3.4bln

Front Page Universal: High-Risk High Schools To Be Patrolled - The Education Ministry begins a series of actions to lock out organized crime

Front Page Reforma: Fear Of Violence Silences Torreón - Following soccer stadium shootings, paper finds cowed public wary to go on record

INEGI: Retail sales: Retail Index +2.7% in Jun on 4m rolling seas adj annualized basis, v. 1.3% in May and 4.4% in Apr

INEGI: RETAIL: Wholesale sales -21.6% in Jun on m/m seas adj annualized basis; YTD 1H11 +3.4%

"People are dying here in Texas because they can’t afford to live,” Sen. Eddie Lucio said. “And you can quote me on that.” http://ping.fm/1NAEE

18 August 2011

BANXICO: Quarterly Credit Survey: The main sources of financing in the second quarter of this year were: http://ping.fm/dSnul

Front Page Excelsior: Mexican Bonds Attract - Balance of bonds in foreign hands through Aug 8 reached US$72.9bln, highest level YTD

Front Page Financiero: Speculation To Keep Food Prices High - Food inflation to continue for at least a year, could surpass 2008 levels

Front Page Milenio: PRD Reluctant To Back AMLO - Party prez does see need to work together with Lopez Obrador's Morena political org

Front Page Universal: Regulation On States To Toughen - Federal banking regulators working on tighter oversight of state borrowing

Front Page Reforma: Bureaucracy Grows, Private Employment Down - Govt ranks hit record 2.3mln, while private sector cut 419k jobs

17 August 2011

Front Page Economista: Ending Tenencia Bad Biz For States - Amid slippery finances, state-by-state elimination of unpopular auto tax tougher

Front Page Financiero: Budget, Bound By Global Situation - 2012 spending plans will be limited as international growth projections slow

Front Page Universal: Unmonitored, 90% of Municipal Debt - Hidalgo, Coahuila, Tabasco and Zacatecas only states to regulate local govt debt

Front Page Milenio: Format For Security Law Agreed - Will pull together diverse legislative issues that have frozen reform talks

Front Page Reforma: Puebla Controls Piracy In South - Once a major center of illicit goods, now a staging ground for entire south-southeast

16 August 2011

INEGI: IMMEX (form. maquila) Stats - Headcount 1.85mln in May v. 1.85mln in Apr., and v. 1.76mln in May 2010

INEGI: IMMEX (form. maquila) Stats - Business establishments registered in program -10 in May to 5,077 v. Apr., and v. 5,290 in May 2010

BANXICO: Monetary Base: Week ending Aug 12 +MXN2.353bln to MXN646.631bln, y/y +9.2%, central bank says public cash demand normal

BANXICO: Foreign Reserves: Week ending Aug 12 +US$641mln to US$134.534bln

Front Page Economista: State-Level Debt Doubles In 4.5yrs - In 1H of 2011 Zacatecas, Nayarit, Campeche and Durango borrow the most

Front Page Financiero: Mexican Resilience Surprises - Moody's says Mexico is in a privileged situation to respond to financial shocks

Front Page Universal: Cut State Spending, Feds Ask - FinMin Cordero said states with highest debt levels need to strengthen revenue

Front Page Milenio: State Debt Up 2.4bln Pesos - State borrowing increases most in State of Mexico, Nuevo Leon, Jalisco, Veracruz, Chihuahua

Front Page Reforma: Debt Becomes Political Missile - PRI and PAN exchange accusations on debt increases at respective state, federal levels

09 August 2011

INEGI: Inflation: July pressures came from produce; core and non-core indices +0.22% and +1.38% in Jul to annual rates of 3.19% and 4.51%

INEGI: Consumer Inflation in July at 3.55% annual v. 3.64% in Jul 2010; index +0.48% in month, largest Jul increase in three years

Front Page Economista: Mexico To Grow: FinMin - GDP still on track to expand around 4% in Mexico in 2012, despite new risks: FinMin

Front Page Financiero: US Crisis Not Blind Spot, Mexico Faces Risk: IMF - FinMin says US debt downgrade, Euro crises real; Mexico vulnerable

Front Page Universal: Stocks Plunge As Fear Rises - Global economy quavers after US debt downgrade, worst stock declines in 3yrs

Front Page Reforma: Queen Puts PGR In Check - Cartel suspect Sandra Ávila Beltrán blocks US extradition and cleared of trafficking charges

04 August 2011

INEGI: Consumer Confidence: Headline Index +1.93% seas adj m/m in July; sub-indices up across the board; @94.2 still historically low

Front Page Economista: Mexican manufacturing sector has strongest deceleration since 2008 as US industry slows

Front Page El Financiero: CCE: More Reforms Needed - GDP will slow due to threats of unemployment, weak consumption levels, low incomes

Front Page Jornada: Army Has Found 778 Training Camps - To date nearly 1,000 camps, from training to cultivation crops, have been discovered

Front Page Universal: High Costs, Low Transparency In Senate - Sen. President Manlio Fabio Beltrones admits need to make disclosure rules

Front Page Reforma: Banxico Buys Gold Shield - Central bank has purchased 100 metric tons of gold as it diversifies war chest

03 August 2011

Front Page Economista: 41% Of PGR Has Been Evaluated - After 21 State Delegates dismissed, Attorney General Office says purge continues

Front Page Jornada: Search For Surveyors Intensifies - 6 workers from Mitofsky and 3 from Parametria disappeared during pre-electoral polls

Front Page Universal: No Economy Is Bulletproof: Cordero - Finmin says Mexico is in a better position, and no indication of crisis exists

Front Page Milenio: No Tax Hikes: Cordero - FinMin says that 2012 tax code will eliminate tenencia vehicle fee for the first time

Front Page Reforma: PGR Purge Tally To 462 - Attorney Generals Office has fired hundreds, still reviewing 700 others for irregularities

01 August 2011

Front Page Economista: Mexican Profits Weather Storms - In Q1 publicly listed companies on Mexican Stock Exchange saw profits up 6.1% y/y

Front Page Financiero: Slowdown Confirmed: FinMin - In Q2 Mexico GDP ~+3.5% y/y versus +4.6% in previous quarter, FinMin report says

Front Page Universal: 36 Billion Pesos On Parties - In past 11 yrs, 16 political parties have received MXN36bln in federal funds

Income disparity more acute in San Antonio, Texas than in the rest of the nation, but gap shrank in Great Recession: http://ping.fm/LkVTa

Front Page Milenio: AMLO-Ebrard Truce Ends - Marcelo Ebrard launches Democrats of the Left; Lopez Obrador campaign begins in Tabasco

Front Page Reforma: Ebrard Embarks On Prez Run - In a cautious speech, Mexico City mayor signals he will seek 2012 candidacy for the left