Mexican factory July exports up 0.03pc as consumer imports decline 1.69pc

MEXICAN imports of consumer goods fell 1.69 per cent as its factory export remained unchanged in July from output in June, according to the national statistics agency.

The economy contracted in the second quarter from the first, the first negative quarter-to-quarter growth in four years, prompting official growth estimates for the year to be to 1.8 per cent from the earlier forecast of 3.1 per cent, Reuters reported.

Factory exports, 80 per cent of which are US-bound, increased 0.03 per cent, though automotive exports fell 0.83 per cent compared with June. Manufactured goods, excluding vehicles, rose 0.43 per cent compared with the previous