Harbingers of More Good Things to Come

MEXICO - Report 30 Sep 2014 by Mauricio González, Guillermo Valdes, Esteban Manteca and Ernesto Cervera
Executive Summary Signs of recovery are growing broader, and more pronounced, suggesting brighter prospects for H2.Industrial production in July was growing 2.1% faster than a year earlier. This was the sixth increase in 2014, and the second biggest, after the 3.6% increase in March. The Mexican Association of the Mexican Automotive Industry (AMIA) also reported that domestic sales of cars and light trucks were up 17.6% in August y/y -- a record expansion for that month. The labor market has improved, too, with manufacturing payrolls up another 2.5%, atop 2.5% in June, and the strongest ris...

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