Mexico’s trade activity surge was curtailed somewhat by hurricane and earthquake activity in September. Export growth slowed to 3% on a year earlier from 10% in August, the slowest since last October before the U.S. election-driven peso collapse occurred. The economic damage caused by the earthquakes likely hit production and shipping, but should prove temporary. Exports to the U.S. rose by just 1%, down from 9% a month earlier. However, the impact on the trade surplus with the U.S. – and hence the political ramifications ahead of the next round of NAFTA talks – awaits more detailed data...
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