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COUNTRY INSIGHTS

Economics: Weak Industrial Sales Data
MEXICO · Report · 20 Jul 2016

Industrial activity showed only moderate growth in May as production increased a scant 0.4% on a 12-month, seasonally adjusted basis. While both the construction sector (+3.2% year on year) and utilities (+6.3%) experienced very positive results, their contribution was largely offset by yet anot...

Politics: New Party Leaders in a Very Different Context
MEXICO · Report · 20 Jul 2016

The two major political parties that suffered the greatest setbacks in last June’s elections (PRI and PRD) elected new national leaders this past week as they try to reposition themselves. Both parties face a new balance of power following the elections this past June, from which the National Act...

Politics: Murder Rate Rebounds to Peak Levels
MEXICO · Report · 14 Jul 2016

The May report from the National System of Public Security (SNSP) confirmed a murder rate growth trend dating back to the beginning of 2015 and a return to levels of four year ago at the peak of the government’s war on organized crime. Four northern states – Baja California, Chihuahua, Tamauli...

Economics: Effect of Electric Power Rate Hikes
MEXICO · Report · 14 Jul 2016

The Federal Electricity Commission issued a statement this past July 3 announcing that it was raising the electric power rates it charges industrial, commercial and residential customers with high power consumption levels due to the higher prices that the federal electric power utility is paying ...

More Cuts at Last, but More Needed, while Teachers' Conflict Takes Government Off Guard
MEXICO · Report · 05 Jul 2016

Indicators released last month revealed that key areas of the economy continued to grow at a surprisingly fast pace through the second quarter of the year, but they also pointed to potential signs of weakness ahead. Internal consumption, which has long defended its perch as the main growth driver...

Economics: More Cuts at Last, but More Needed
MEXICO · Report · 30 Jun 2016

In a departure from practices of recent years, in which officials promised hefty spending cuts and then failed to implement them, so far in the current year they have fully met such adjustment targets, and then some. However, a number of doubts remain as to just how sustainable such adjustments ...

Politics: A New Electoral Outlook for 2018
MEXICO · Report · 30 Jun 2016

GEA-ISA’s newest survey of voter preferences shows significant changes in the political-electoral landscape in the immediate wake of the elections that took place June 5. The public’s evaluation of President Enrique Peña and his administration is the worst seen in his three and a half years in of...

Economics: Doing Business Easier
MEXICO · Report · 23 Jun 2016

The World Bank’s annual “Doing Business” report provides us with a means for comparing the ease with which business can be conducted in Mexico relative to other countries in any given year, and for seeing how such conditions have evolved in Mexico over the years. In its latest Ease of Doing Bu...

Politics: A New Day for Fighting Corruption
MEXICO · Report · 23 Jun 2016

Last week’s passage of laws that will effectively create a National Anti-corruption System is a development of enormous importance. For the first time Mexico has legally typified the sorts of activities that constitute acts of corruption, clearly defined those who are bound by the law and its fil...

Economics: Risks to Consumption Growth
MEXICO · Report · 15 Jun 2016

Internal consumption, which has sustained its perch as the main growth driver of the Mexican economy, continues to expand at an extraordinarily fast pace through the second quarter of 2016, as evidenced by indicators such as the index of private consumption for the first quarter (it grew 4.7% yea...

Politics: Political Map for 2018 Redrawn
MEXICO · Report · 15 Jun 2016

The PRI entered this year’s campaign expecting to expand its absolute majority of state governors and gain momentum heading toward the 2018 election. Instead, on June 5 the PAN took seven of the 12 governorships in play as it jostled for the pole position ahead of the presidential contest. Th...

Economics: Troubling Balance of Payments Data
MEXICO · Report · 09 Jun 2016

Aspects of the report on the balance of payments for the first quarter of 2016 may eventually become points of concern regarding Mexico’s external exposure such as the slowing pace of exports, the direction of foreign investment flows, the extent of financial capital outflows from both Mexican re...

Politics: Elections 2016 - a new political balance
MEXICO · Report · 08 Jun 2016

Election Day, last Sunday, June 5, brought about electoral results that modify Mexico's political landscape, as well as the political strength each political party has facing the presidential elections of 2018. Voters chose a different party to inhabit eight out of the 12 governor's mansions at s...

Stress in Electoral Oversight Could Deepen Crisis
MEXICO · Report · 01 Jun 2016

Indicators published in May reinforce our analysis of economic weakening trends, though there were promising developments, too. The monthly GDP proxy (IGAE) suggested a gradual firming of economic activity (+3% in March, the highest level ytd). We also saw further evidence of expanding service se...

Economics: New Rules on Local Gov’t Finance
MEXICO · Report · 24 May 2016

President Enrique Peña Nieto signed the Law of Financial Discipline for States and Municipalities on April 27. The enactment and eventual application of this law constitute a major step forward by spelling out the very specific obligations that state and municipal governments must abide by in the...

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