Mexico’s trade balance widened on Wednesday thanks to growing demand for its products in the US, while the balance narrowed in Sweden and Thailand.

Americas

US: The Chicago manufacturing index came in at 63, above consensus forecasts of 60, but it was offset by a 2 per cent fall in durable goods orders, in line with expectations but a reversal from September’s 4.1 per cent rise.

Mexico: Adjusted for seasonal swings, there was a trade surplus of $515m in October and in non-seasonally adjusted terms there was a deficit of $129m. Seasonally adjusted, factory exports rose 0.36 per cent from September to October, reflecting strengthening US demand in the country where Mexico sends nearly 80 per cent of its exports. Imports of parts used by factories to make goods rose 0.66 per cent compared with the previous month. However, imports of non-oil consumer goods fell 0.19 per cent month on month, a sign of weaker consumer demand.

Europe

Switzerland: The UBS consumption indicator fell from 1.56 points in September to 1.28 points in October. The decrease was influenced by a lower evaluation of business conditions in the retail sector. Good figures for new car registrations and an improvement in consumer sentiment prevented a steeper drop in the consumption sentiment.

Germany: According to the GfK Consumer Climate study, households were equally optimistic in November compared with October. Although economic and income expectations registered considerable increases, and willingness to buy reached a seven-year high, the indicator remained unchanged from October to November, at 7.1 points in November. The indicator is expected to increase to 7.4 points in December.

France: Household confidence decreased slightly in November, with the index at 84 points – one less than in October. While households’ opinion about their saving capacity was almost stable, their opinion about their future saving capacity decreased. Views about the general economic situation in France also worsened.

Spain: In October, the seasonally adjusted general retail trade index rate fell 1.8 per cent compared with September and 0.5 per cent year on year, after going up 2.1 per cent in September. Seasonally adjusted, the retail sales index went down for almost all products year on year, especially personal equipment, which decreased 3.5 per cent.

Sweden: The trade balance decreased 24.1 per cent from September to October, from $882m to $669m. Both imports and exports increased in October compared with the previous month, 6.9 per cent and 4.9 per cent, respectively.

Norway: Unemployment fell from 3.5 per cent in the second quarter to 3.1 per cent in the third quarter.

UK: The economy grew 0.8 per cent in the third quarter, according to the Office for National Statistics’ second estimate of gross domestic product. The estimate confirmed that the UK’s recovery gathered pace in the three months to September, following growth of 0.7 per cent in the second quarter and 0.4 per cent in the first three months of the year.

Asia-Pacific

China: Oil demand rose 0.9 per cent year on year, after an end-September price cut. October inventory adjusted oil demand was driven by petrol demand growth, which rebounded to 14.5 per cent year on year. Year to date oil demand is up 3.6 per cent year on year, marginally higher than September.

Thailand: After going up 0.47 per cent in September, trade balance fell 1.77 per cent year on year in October, registering a $1.77bn deficit. Exports slipped 0.7 per cent from October last year, going down for the second month in a row. Imports were lower for a third month in a row, falling 5.37 per cent.

Australia: After a 0.1 per cent rise in the second quarter, real building rose 2.7 per cent in the third quarter – the strongest increase since 2012. Although total private residential investment had been responding to lower interest rates, it fell 1.2 per cent after a 1.4 per cent rise in the second quarter. The construction of new homes went up 0.3 per cent. Meanwhile, private engineering building increased 6.9 per cent in the third quarter, after sliding over the past three quarters.

With additional reporting by Robin Harding in Washington and Claire Jones in London

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