Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Mexico IP increased 0.2% m/m sa in July, mostly driven by construction activities and mining, which increased 1.5% and 0.5% m/m sa, respectively, partially offset by the decline in manufacturing (-0.5%). In annual terms, IP increased 0.7% y/y.
"We estimate that the GDP proxy of July will expand 0.4% m/m sa, mostly explained by a very strong import performance observed in that month (3.3%) and employment growth (0.4%). This should set the Q3 GDP tracker at 0.7% q/q sa, a bit better than our current forecast (0.4%)", says Barclays.
The contraction in manufacturing was mainly driven by production of transport equipment (cars) falling 5.4% m/m sa, which accounts for almost 25% of total manufacturing. These losses might be offset in August as car production increased 6.0% m/m sa, according to AMIA. However, oil production declined 2.2% in August, and there might be a reversal in construction, as it records two consecutive months of strong positive expansions. In that sense, industrial growth should remain very modest in the coming months and GDP growth should be driven by services.
