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Mexico factory exports slump in January
February 27, 2017 / 5:27 PM / 9 months ago

Mexico factory exports slump in January

MEXICO CITY (Reuters) - Mexican factory exports slumped in January by the most since October, while non-oil consumer imports dipped slightly, data showed on Monday, as Donald Trump took over the White House.

Non-oil manufacturing exports fell 5.8 percent in January from December in seasonally adjusted terms, national statistics agency INEGI said, as auto exports fell 5 percent and non-auto shipments slipped 6.17 percent.

Non-oil consumer imports slipped just 0.1 percent in the same month, after a dramatic fall in the Mexican peso hurt purchasing power abroad.

Trump, who took office on Jan 20, has threatened to scrap a key trade agreement with Mexico if he cannot adjust it to benefit American interests and tax Mexican imports to the United States, casting a shadow over Mexican businesses.

Mexico posted a $783 million trade deficit in January when adjusted for seasonal swings MXTBLS=ECI, the national statistics agency said on Monday.

In non-seasonally adjusted terms, Mexico posted a trade deficit of $3.294 billion MXTBAL=ECI.

Reporting by Christine Murray and Alexandra Alper; Editing by Chizu Nomiyama

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