Oct 11, 2010
| Last Updated
Mexico’s industrial production likely decelerated to 6.3% y/y in August from 7.5% y/y three-month moving average (3MMA) to July, driven by the manufacturing sector, which follows the dynamics of the U.S. manufacturing output. Indeed, we expect manufacturing component, which accounts for 57% of the industrial index, to cool to 9.1% y/y (12.6% y/y 3MMA) as a result of strong but slowing automobile output (53% y/y) and imports of intermediate goods (29.6% y/y). Moreover, the U.S. manufacturing production continued to[...]
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