Mexico’s factory-made exports rose in July by the most in six years after uneven growth in the first half of 2015, data showed on Thursday, while a slump in consumer imports suggested a rebound in domestic demand may be flagging.
Manufactured exports rose 6.5 percent in July compared with June, rising for the second month in a row, the national statistics agency said in a statement. It was the biggest month-on-month rise since August 2009, data showed.
Mexico exports mostly manufactured goods like cars and televisions and about three-fourths are sent to the United States.
The data showed non-oil consumer imports fell in July by 5 percent from June in their steepest drop since May 2012.
Rising retail sales helped the economy in the second quarter, but economists warn spending could wilt after a splurge ahead of national elections this summer. Consumer confidence fell last month.
Mexico’s finance ministry trimmed its 2015 growth forecast last week after falling oil production and anemic factory output weighed on the economy in the second quarter.
Receive the PVDN morning newsletter, exclusive content, and Whatsapp messaging for emergency alerts, by becoming a PVDN Supporter, learn more here, Or you can support local media with a one-time donation here
Mexico posted a $821 million trade deficit in July when adjusted for seasonal swings. A drop in oil prices
In non-seasonally adjusted terms, Mexico posted a trade deficit of $2.267 billion.
(Reporting by Michael O’Boyle Editing by W Simon)