Negative on Balance

MEXICO - Report 02 Apr 2014 by Mauricio Gonzalez, Guillermo Valdes, Esteban Manteca and Ernesto Cervera
Executive SummaryMarch economic data was mostly negative. Even as the government accelerated spending programs, and offered to expand its mortgage lending programs to help revive a deeply depressed housing industry, there was further evidence that the economy, especially in the domestic sectors, continued to soften. Yet not all the news was dire. Industrial output increased slightly in January, and inflation fell below 4% in the first half of March. Yet the monthly GDP proxy was practically flat in January, and consumer spending also fell. Consumer and producer confidence was likewise down ...

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