Mexico’s looks for 3.9 economic growth forecast for 2010
Mexico's Treasury Department says it expects the economy to grow by 3.9 percent this year. That's an improvement over its earlier prediction of 3 percent.
"Finally, growth predicted for the global economy as well as the recovery in formal employment that began in July 2009 allows for expectations that the recovery of external and internal demand will continue in 2010," the ministry said. - Finance Minister of Mexico
The statement said the new forecast is in line with private estimates. The I...
Mexico buys dollars on the Cheap!
Mexico's central bank chief, Agustin Carstens, said on Wednesday the country should accumulate more international reserves to protect it from future volatility in the foreign exchange market.
Carstens said Mexico's economy was recovering better than policy makers had expected but he was concerned the peso currency could take a hit when the U.S. Federal Reserve eventually starts raising interest rates.
Carstens said now was a good time for the bank to buy dollars, and higher reserves could al...
HSBC Bank Says Mexico More Attractive Than Brazil , HSBC will invest $700 million more
Mexican stocks are more attractive than Brazilian shares because the nation will benefit from the U.S. economic rebound and be hurt less by China’s lending curbs, said John Lomax, a strategist at HSBC Holdings Plc.
“The U.S. is in the better side of the equity market cycle,” Lomax said in an interview during a trip to Rio de Janeiro.
Mexico sends 80 percent of its exports to the U.S., while China replaced the U.S. as the top destination for Brazil’s exports last year. Lomax rates Mexic...
Is Mexico and Latin America is poised for a solid recovery in 2010?
Signs of confidence in the region are plentiful, with foreign direct investment as a good barometer. Ford intends to invest $2.3 billion in Brazil while Infosys, India’s second largest software producer, plans to set up a wholly-owned subsidiary. Wal-Mart aims to re-launch its banking operations in Mexico, and Wendy’s/Arby’s is firmly committed to expand throughout Latin America.
While 2010 will be one of recovery for Latin America, the impacts will be uneven and intractable problems, b...
Mexican economy is directly tied to the United States
A Mexican manufacturing sector survey pointed to future growth for a sixth straight month in December but the reading suggested the economic recovery could be losing some steam in Mexico.
The IMEF factory index held flat at 52.6 during the month, the Mexican Institute of Financial Executives, or IMEF.
Readings of 50 and above signal likely expansion in subsequent months. The index first breached that level in July.
Mexico's economy sank deeply in the first half of 2009 but the government an...
Mexico is Going to See Higher Electricity, Natural Gas Use In Next 15 Years
Mexico Sees Higher Electricity, Natural Gas Use In Next 15 Years
Mexico's projected electricity consumption will increase by an average of 3.6% per year through 2024, requiring additional capacity of about 27,300 megawatts, the Energy Ministry said in a report Tuesday.
In order to keep up with demand, the government-run electricity sector will require 37,615 megawatts of new installed capacity, at an estimated investment of $91.3 billion, according to the ministry's 15-year outlook for the i...
Telecommunications giant Telefonos de Mexico SA
Mexico's Telmex: More computers could help profits. MEXICO CITY -- Telecommunications giant Telefonos de Mexico SA said Thursday that the only way to continue its gains.
Investments expected to increase amid rising competition.
Mexico's largest fixed-line telephone company, Telefonos de Mexico SA, said Thursday that it doesn't plan to change its guidance for capital expenditures of eight billion pesos ($619 million) in 2009 even after making heavy investments earlier in the year, accordin...
Recession in Mexico’s economy
When the American economy was growing, successive Mexican governments counted on foreign investment and exports to generate growth. Exports account for almost a third of Mexico's gross domestic product. But more than 80 percent of them go to the U.S., and when Americans stop buying, there is no market for Mexican-made goods.
Mexico is credited by economists with economic policies that reduced debt and tamed inflation, but that has not saved it from the pain of a global recession.
The effe...
In Mexico, an energized economy raises hopes
As Mexicans risk their lives to illegally emigrate to the USA and Yet in places such as this tourist town that caters to the burgeoning middle class outside Mexico City, many Mexicans say their future looks brighter than it has in generations. (more...)...
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