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Mexican manufacturing exports dip in September
Manufactured exports fell 1.07 percent in September compared with August, according to seasonally adjusted data released on Friday by the national statistics agency.
Mexico sends nearly 80 percent of its exports to the United States.
Wavering U.S. demand for Mexican made goods contributed to an economic contraction in the second quarter and Mexico’s central bank is expected to cut interest rates for the second month in a row later on Friday to help boost the economy.
Imports of parts used by factories to make goods fell 1.38 percent in September compared with August in seasonally adjusted terms while imports of non-oil consumer goods rose 1.67 percent from the prior month, bouncing back from a drop in August.
A Reuters poll last week showed analysts cut their growth outlook for Mexico to 1.3 percent this year, down sharply from a 2.9 percent growth rate forecast in July.
Mexico posted a $604 million trade surplus in September when adjusted for seasonal swings. In non-seasonally adjusted terms, Mexico posted a trade surplus of $659 million. (Reuters)
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