GDP: + 4.3% for 2006. Banco de Mexico has projected a growth rate of 3.37% for 2007, whereas the Treasury Department has come out with 3.9%.
Consumer Prices: + 4.2% in the 12 months through March (4.1% in February); core inflation fell to 3.83% in March, down from February's five year high of 3.95%. Banco de Mexico sources indicated that an interest rate hike from its current 7% could be on the cards. At the same time, the consumer confidence index rose to 106.5 in March, up from 103.6 in February.
Industrial Production: + 1.4% in January; the IAT manufacturing index went up in March to 56.9 or 4.5 points over February, but was 0.2 points below March 2006. The EMOE producer confidence index went down to 53.7 or 0.4 points below February and 1.2 points below March 2006.
Automotive Production: 162,947 units were built in March, or 17.8% less than last year. For the first three months of this year, 461,397 units were assembled, a reduction of 12.9% over last year.
Steel Production: 1.3 million (e) mt in February
Unemployment: 4.0% in February
Foreign Debt: the Mexican government is further reducing its foreign debt, which was 4.4% of GDP in 2006 and may fall to 3.9% in 2007.
Trade Balance: - $9.0 billion as of February for the last 12 months
Currency: Peso 11.0 to US$1 as of April 11 - unchanged from a year ago
Canada:
GDP: + 0.1% in January over February, + 2.0% in the last 12 months through January. During this 12 month period, construction grew + 5.1%, retail sales + 5.0%, whereas durable goods and manufacturing shrank by - 3.8% each.
Consumer Price: + 2.0% as of February for the past 12 months, + 0.7% over January.
Core inflation: +2.4%
Industrial Production: - 2.3% in Jan.
Automotive Production: 250,325 units were built in March, an increase of 5.9% over last
year. In the first three months of 2007, 689,415 units were built, or 0.7% more than last year. In the first quarter of 2007, Canada has been the only NAFTA country with a growing car production.
Steel Production: 950,000 (e) mt in February. January's revised production number of rolled steel is 1,229,467 mt, out of which 867,346 mt (70.5%) were shipped domestically, 320,714 mt (26.1%) were exported to the US, and 41,407 mt (3.4%) to other countries. A total of 437,210 mt of hot rolled sheets and coils were produced in January, out of which 90,669 mt were shipped to the US (20.7%) and 4,067 mt to other countries. On the pipe and tubing side (both seamless and welded), 242,027 mt were produced, out of which 78,373 (32.4%) went to the US.
Unemployment: 6.1% in March
Trade Balance: + $43.7 bn in the last twelve months through January.
Currency: C$1.14 to US$1 as of April 11 (C$1.15 to US$1 a year ago)