Economy

Despite AMLO's pledges, Mexico's economy declined in October – Aljazeera.com

Published

5 years ago

December 24, 2019

Mexico‘s economy contracted by 0.5 percent in October from September in seasonally adjusted terms, marking a poor start to the fourth quarter after nine months of stagnation, according to figures released Tuesday by the country’s National Institute of Statistics and Geography (INEGI).

The decline in economic output was the biggest since a 0.5 percent contraction in March and the third negative reading in four months, according to INEGI data.

“We started the quarter badly,” Jonathan Heath, one of the five board members of Mexico’s central bank, said on Twitter.

Mexico’s economy has struggled to gain traction under President Andres Manuel Lopez Obrador, who took office in December 2018 pledging to ramp up growth to four percent per year.

Instead, the economy has been flat this year, slipping into a mild recession in the first half of 2019.

A breakdown of the data showed that primary activities, including agriculture, declined by 1.6 percent during October from the previous month, while secondary activities, such as manufacturing, slipped by 1.1 percent. Tertiary activities, which include retail and services, declined by 0.1 percent.

Summing up the latest data, Heath said manufacturing output looked stagnant while construction was going through a “crisis”.

Compared with the same month a year earlier, figures showed economic activity in Mexico, which is Latin America‘s second-largest economy, shrank by 0.8 percent in unadjusted terms in October.

SOURCE:
Reuters news agency

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

17 hours ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

24 hours ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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