Banorte

Proceeding in chronological order... Consumer confidence stable in June. Hence, with seasonally adjusted data we estimate 0.9% m/m growth. In contrast, the pace could moderate on rising inflation, which remains as the main risk for performance ahead....

Both indicators moderated, although highlighting that manufacturing returned to contraction territory. Except for employment, all sectors declined. ‘ Finally, deliveries fell to 48.4pts from 48.9pts (-0.4pts), again the only sector below the 50pts th...

Seasonally adjusted, inflows fell 1.5% m/m, which is modest after advancing 4.8% in April. Specifically, hard data such as retail sales and industrial production were weaker, especially the former. Meanwhile, wages seem to be lagging, with an increas...

PSBRs deficit of $104.4 billion up to May. The MoF released its public finance report for May, in which we highlight the $104.4 billion deficit in Public Sector Borrowing Requirements (PSBR) –the broadest measure of the public balance[1]–. This compa...

Banking credit rose 2.2% y/y in real terms, adding a second month in positive territory. Lastly, inflationary pressures continued –especially within the core component, with 18 consecutive months to the upside (7.28% y/y)–, which could imply addition...

The labor force decreased by 390.3 thousand, with unemployed persons +127.8 thousand. The result on job positions is negative, considering that the usual seasonality points to a moderate creation, considering the jobs that are usually lost during the...