· Industrial production in Mexico recovers in June.
· Trump considers reducing capital gains tax.
· Russia registers the first vaccine for COVID-19; still in trials.
· Economic indicators: Investor`s sentiment continues to improve regarding the European economy (ZEW, 71.5 Aug vs 59.3 prev.) and crude oil inventories are expected to continue to fall in the US (API, -3.3 e.).
INEGI figures published this morning confirm a recovery in the economy`s industrial sector during June as they recorded a monthly 17.9% expansion. Manufacturing activities grew the most during the period (26.7%), followed by construction (17.5%) due to their return. However, the rebound was not as strong in mining (1.6%) or public services (0.7%). With this, industrial activities remain in an annual contraction (-17.5%) but begin to show signs of improvement. The most affected sector until now is construction, which records a (-) 26.1% contraction compared to 2019. The industry as a whole has contracted (-) 14.1% in the first semester of the year and its recovery will greatly depend on the manufacturing export sector given the absence of stimulus that could incentivize domestic demand.