UPDATE 2-Mexican factory exports rebound in April

miércoles 25 de mayo de 2016 10:32 GYT
 

(Adds current account figures, 8th paragraph)
    MEXICO CITY, May 25 (Reuters) - Mexico's factory-made
exports rose in April, rebounding from a three-month slump, data
showed on Wednesday, while non-oil consumer imports fell in a
sign of weaker domestic spending in Latin America's No. 2
economy.
    Manufactured exports rose nearly 3.1 percent in April from
March in seasonally adjusted terms, the national statistics
agency INEGI said. Auto exports jumped 10.2 percent while other
factory-made goods dipped 0.3 percent, month-on-month.
    Out of Mexico's total exports of $30.42 billion in April,
$27.42 billion were manufactured goods, an INEGI press release
said. Mexico exports mostly to the United States, and many
shipments are parts used in American factories. 
    In annual terms, April's factory exports fell 7 percent
compared with a year earlier, underscoring softer U.S. demand
for Mexican goods.
    Last week, the government dialed back its economic outlook
for growth this year, pointing to weak U.S. industrial output.
 
    Non-oil consumer imports fell 2.9 percent in April compared
with March, dropping for the second month in a row in a sign
domestic consumption that has helped buoy the Mexican economy
could be flagging.
    Mexico posted a $1.953 billion trade deficit in April when
adjusted for seasonal swings. In non-seasonally
adjusted terms, the trade deficit was $2.08 billion.
    Separately, central bank data showed on Wednesday that
Mexico's current account deficit narrowed in the
first quarter of 2016 to $6.991 billion from $7.266 billion in
the previous three-month period. 

 (Reporting by Michael O'Boyle Editing by W Simon)