The Day at a Glance | October 27 2020

The Top

· Mexican exports grew an annual 3.7% in September.

· The United States Senate is in recess after Amy Coney Barret was sworn in as Supreme Court Justice.

· Economic indicators: Consumer confidence in the US (102 e. vs 101.8 prev.).

Economic environment

Mexican exports continued their trend of recovery during September, according to INEGI figures. Exports increased 0.98% month over month and 3.7% annually, mainly boosted by non-oil exports. Imports, for their part, grew 5.32% monthly and maintained an annual rate of contraction (-8.5%) with monthly increases in intermediate goods (6.22%), consumer goods (2.05%) and capital goods (1.5%). With this, Mexico`s trade surplus remained at high levels (4,385 million dollars), even though it has decreased with respect to the high point seen in July. Exports slightly moderated their rate of recovery and remained 14.4% under what was recorded in 2019 for the January-September period; meanwhile, imports recorded a (-) 19.4% contraction in the same time span. Only agricultural (5.3%) and extractive (11.7%) exports showed growth with respect to the 2019 January-September period.

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