Banorte

We expect inflation at 0.52% 2w/2w (previous: 0.21%), higher than its 5-year average at 0.49%. This release will include the first estimate for September, along revised figures for August. For September, signals are mixed. However, considering other ...

In our view, the document reinforces the statement’s more hawkish tone. In this context, one member signaled towards recent downward revisions in growth estimates by international organizations, with a moderation in advanced and Asian economies. In t...

With this, activity stands 2.0% below February 2020, before the pandemic started. Differences prevail in annual terms across sectors, with construction (8.7%) and manufacturing (6.6%) still higher, as seen in Chart 2. These two prints were strong eno...

Banxico Minutes (September 30th). We expect manufacturing at -0.5% m/m (4.8% y/y), returning to contraction after the +1.4% rebound in July. In his view, this is very important ahead of the Fed’s tapering. These comments reinforce the prudent stance ...

It foresees a moderate impact in the face of the challenges of current environment. Mexico (23.8% of sales and 37.1% of EBITDA LTM), with solid fundamentals in the industry supporting the positive medium-term outlook. Europe, Asia, Middle East and Af...