Mexico industrial growth likely recovered in June

Mexico's industrial production data is likely to release on 11th August. 

According to Societe Generale, "We continue to expect stronger manufacturing and trade gains in H2 15. Improvement in IP growth through the remainder of this year should help the economy grow to its potential in H2 15 and then to strengthen in 2016. Currently, we expect the Mexican economy to grow by 2.6% in 2015 and 3.2% in 2016."

Trade data suggests industrial production likely recovered in June to grow by 1.2% yoy as manufacturing expanded by 2.4% yoy, although the mining sector decline remains a problem at this stage. That would still mean, however, that IP growth decelerated further in Q2 (0.48% yoy vs 1.48% in Q1 and 2.41% in Q4 14). While some of the recent weakness was caused by the drag from the mining sector, the key reason for the lower IP growth recently was weaker demand from the US that affected manufacturing production and exports.