MEXICO CITY, Dec 26 (Reuters) - Mexican factory exports rose in November in a sign of strengthening U.S. demand, but non-oil consumer imports dipped, signaling a wobbly recovery in Latin America's second economy.
Manufactured exports rose 0.73 percent in November compared with October, according to seasonally adjusted data released on Thursday by the national statistics agency.
Auto related exports rose 4.83 percent last month, its fastest pace of expansion in eight months, following a big dip in October, while non-oil exports in total rose 0.95 percent.
Mexico sends nearly 80 percent of its exports to the United States, and most of Mexico's exports are manufactured goods.
Wavering U.S. demand for Mexican-made goods contributed to an economic contraction in the second quarter and Mexico's central bank has cut its benchmark interest rate three times this year to counter the slowdown.
But the economy rebounded in the third quarter, growing at its fastest pace in more than a year, and Banco de Mexico has said no more cuts are recommended.
However, non-oil imports fell 1.44 percent last month, the biggest dip since June, with imports of non-oil consumer goods shedding 2.69 percent compared with October in seasonally adjusted terms, pointing to weakening consumer demand.
In a separate report earlier this month, data showed that Mexican consumer confidence fell in November for the third month in a row to its lowest level in nearly two years, as consumers in Latin America's second economy became more pessimistic about future growth.
Non-oil imports of parts used by factories to make goods dipped 1.2 percent. Mexico posted a $970 million trade surplus in November when adjusted for seasonal swings. In non-seasonally adjusted terms, Mexico posted a trade surplus of $339 million.
yahoo.com
Manufactured exports rose 0.73 percent in November compared with October, according to seasonally adjusted data released on Thursday by the national statistics agency.
Auto related exports rose 4.83 percent last month, its fastest pace of expansion in eight months, following a big dip in October, while non-oil exports in total rose 0.95 percent.
Mexico sends nearly 80 percent of its exports to the United States, and most of Mexico's exports are manufactured goods.
Wavering U.S. demand for Mexican-made goods contributed to an economic contraction in the second quarter and Mexico's central bank has cut its benchmark interest rate three times this year to counter the slowdown.
But the economy rebounded in the third quarter, growing at its fastest pace in more than a year, and Banco de Mexico has said no more cuts are recommended.
However, non-oil imports fell 1.44 percent last month, the biggest dip since June, with imports of non-oil consumer goods shedding 2.69 percent compared with October in seasonally adjusted terms, pointing to weakening consumer demand.
In a separate report earlier this month, data showed that Mexican consumer confidence fell in November for the third month in a row to its lowest level in nearly two years, as consumers in Latin America's second economy became more pessimistic about future growth.
Non-oil imports of parts used by factories to make goods dipped 1.2 percent. Mexico posted a $970 million trade surplus in November when adjusted for seasonal swings. In non-seasonally adjusted terms, Mexico posted a trade surplus of $339 million.
yahoo.com
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