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Mexico factory exports, consumer imports up in May
Mexican-made factory exports rose in May, while imports of consumer goods also gained steam, in a welcome bright spot for Latin America’s second-biggest economy.
Manufactured exports such as cars and TVs rose 3.99 percent compared with the previous month in seasonally adjusted terms, while consumer goods imports picked up 2.25 percent compared with April, suggesting stronger consumer demand.
Mexico’s economy slowed in the first quarter, prompting the government to cut its full-year growth outlook to 3.1 percent from 3.5 percent, down from 3.9 percent last year.
Mexico posted a $1.103 billion trade deficit in May when adjusted for seasonal swings, the national statistics agency said on Wednesday. Mexico’s trade balance with the United States oscillates between slight deficits and surpluses.
In non-seasonally adjusted terms, Mexico posted a trade deficit of $470 million. (Reuters)
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