Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2015-05-22 17:25:00

MEXICO SLASHES GROWTH

MEXICO SLASHES GROWTH

Mexico's government on Thursday slashed its economic growth forecast to between 2.2 to 3.2 percent this year after data showed the economy grew at its slowest pace in over a year undermined by flagging oil revenue and weak U.S. growth.

The economy expanded by 0.4 percent in the January-March period compared with the fourth quarter, slowing from 0.7 percent growth in the fourth quarter, the national statistics agency said,

A steep drop in crude prices has hit government revenue from oil sales by state energy company Pemex, forcing the finance ministry to rein in its infrastructure spending.

Total exports to the United States, an engine of the economy, also slowed their expansion, as the U.S. economy grew only 0.2 percent at an annual rate in the first quarter.

The government cut its 2015 economic growth forecast a full percentage point from the previous outlook of 3.2-4.2 percent, Deputy Finance Minister Fernando Aportela said.

"The U.S. economy is expected to recover its dynamism during the year, which will strengthen Mexico's non-oil exports," Aportela told a news conference. He also said domestic demand was clearly improving following sluggish growth in recent years.

Analysts expect the Mexican economy will grow 2.7 percent in 2015, according to a Banamex poll on Wednesday.

"We need to see if oil output stabilizes," said Alonso Cervera, an economist at Credit Suisse in Mexico City. "If crude production keeps falling, growth could be closer to 2 percent."

Industrial output, which includes factory and crude oil production, fell 0.2 percent compared with the previous quarter, the steepest drop in nearly two years. Services slowed to 0.5 percent growth, the weakest in a year.

Already released statistics from Pemex have shown a drop in crude output in the first three months of the year.

On an annual basis, gross domestic product (GDP) grew 2.5 percent in the first quarter from the same period in 2014 . That was below the 2.6 percent pace reached in the fourth quarter.

A Reuters poll had forecast 2.4 percent growth for the year-on-year figure and 0.3 percent for the expansion in the first quarter versus the fourth quarter.

Mexico's monthly economic activity index declined 0.6 percent in March compared with the prior month, the agency said in a separate report, the steepest drop in nearly 2 years as services contracted and industrial output was flat.

reuters.com

Tags: MEXICO, OIL, PRICES

Chronicle:

MEXICO SLASHES GROWTH
2018, January, 17, 23:20:00

BP PAYS $1.7 BLN

BP - The Court Supervised Settlement Program (CSSP) established as part of the Deepwater Horizon (DWH) class action settlement is winding down. BP now expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results for the remaining Business Economic Loss (BEL) and other claims associated with the CSSP. The cash impact is expected to be spread over a multi-year period.

MEXICO SLASHES GROWTH
2018, January, 15, 10:25:00

OIL PRICES: NOT ABOVE $70 AGAIN

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $70 per barrel at 0558 GMT, up 13 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $64.53 a barrel, up 23 cents.

MEXICO SLASHES GROWTH
2018, January, 15, 10:15:00

WBG: GLOBAL ECONOMIC GROWTH 3.1%

WBG - The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.

MEXICO SLASHES GROWTH
2018, January, 15, 10:10:00

RUSSIAN NUCLEAR ELECTRICITY UP TO 18.9%

ROSATOM - Following 2017, a share of electricity production by Russian nuclear power plants has increased up to 18.9%.

All Publications »