Are things feeling positive?
The peso remains strong floating around 13 pesos to a dollar and inflation in April was reported at 0.38%, an improvement over March’s 0.58%
In another positive sign for manufacturing in Mexico the U.S. government report showed employers cut fewer jobs in April than economists forecast. The U.S. buys 80 percent of Mexican exports.
“This was a good number,” said Jaime Ascencio, a fixed- income strategist in Mexico City at Actinver SA, the nation’s biggest independent money manager. “It raises bets that diminishing job losses will translate into more consumption.”
Economists are forecasting Banco de Mexico will trim its target to 5.25 percent from 6 percent on May 15, according to the median of 16 forecasts in a Bloomberg survey. The bank has reduced rates by 2.25 percentage point so far this year to 6 percent last month in an effort to revive growth.
With information from bloomberg.com>
Jose Ruiz is a Principal in Heidrick & Struggles’ Monterrey office. As an executive recruiter he has worked on executive search projects for multinational clients in industrial sectors and consumer markets. He can be reached at +52 (818) 8625-6521 or jruiz@heidrick.com
About Heidrick & Struggles International, Inc.
The world’s premier provider of senior-level executive search and leadership consulting services. The firm’s executive recruiters and leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. In Mexico, Heidrick & Struggles operates offices in Mexico City and Monterrey. For more information about Heidrick & Struggles please visit www.heidrick.com
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