MEXICO CITY, Sept 20 (Reuters) – Mexican retail sales fell
by the most in seven months in July as shoppers took a breather,
underscoring expectations for slower growth ahead in Latin
America’s second-largest economy.
Sales dropped 1.4 percent in July from June,
double forecasts in a Reuters poll for a 0.7 percent fall and
partly correcting a 1.8 percent jump in June, the national
statistics office said on Thursday.
MEXICO CITY (Reuters) – Mexico has been on the wrong side of China’s economic boom for the last decade, but is now seeing an upturn in its fortunes as the Asian powerhouse’s economy slows and international stock pickers look to hedge their bets.
Fund managers are shifting the composition of their portfolios to protect themselves against further slowing in China. That is bad news for exporter Brazil, but good news for Mexico, which has low trade exposure to Asia and which is starting to claw back the export share and wage competitiveness it lost to China.
MEXICO CITY, Sept 14 (Reuters) – The U.S. Federal Reserve’s
latest round of stimulus spotlights a gulf between Mexico and
its Latin American neighbors as the region girds itself for a
likely revival of the “currency war.”
While Mexico embraced the Fed’s decision to start a third
round of bond-buying, Brazil vowed to unleash an arsenal of new
measures to combat what it fears could be a sharp appreciation
in its currency.
MEXICO CITY, Sept 13 (Reuters) – Mexico needs to raise its
tax take by at least 6 percentage points of GDP – or about $72
billion a year – to fund the incoming president’s spending
plans, a senior tax expert with links to the federal government
said on T hur sday.
Herbert Bettinger, a partner in Ernst & Young who advised
the Institutional Revolutionary Party (PRI) on its last tax
reform proposal, said party officials were considering several
alternatives to boost revenue and improve tax collection.
MEXICO CITY (Reuters) – China’s economy can make its 7.5 percent growth rate target for 2012, and the government will make sure growth does not fall too low, a senior official with China’s $480 billion sovereign wealth fund said on Friday.
Jin Liqun, chairman of the supervisory board of the China Investment Corporation (CIC), said China wanted to bring its economy onto a sustainable footing but was not “cavalier” about slowing growth, which has fanned fears about the world’s ability to withstand a deeper euro zone crisis.