June 27, 2016 / 1:47 PM / 2 years ago

UPDATE 1-Mexico factory exports fall in May; consumer imports edge up

(Recasts with factory exports, consumer imports)
    MEXICO CITY, June 27 (Reuters) - Mexico's factory-made
exports dropped in May, data showed on Monday, while consumer
imports, excluding oil, rebounded after a slump. 
    Manufactured exports fell nearly 2.7 percent in May from
April in seasonally adjusted terms, national statistics agency
INEGI said.
    Mexico exports mostly manufactured goods like TVs and cars
to the United States, and many shipments are parts used in
American factories. Exports have been weak despite a sharp drop
in the peso.
    In May, the Mexico government dialed back its economic
outlook for growth this year, pointing to slack U.S. industrial
output. Mexico's central bank may soon raise interest rates to
support a battered peso despite economic weakness.
    Non-oil consumer imports rose 1 percent in May from April,
bouncing back after two down months. Domestic consumption has
helped buoy the Mexican economy, while exports and oil
production have faltered. 
    Mexico posted a $1.031 billion trade deficit in May when
adjusted for seasonal swings. 

 (Reporting by Michael O'Boyle; Editing by Lisa Von Ahn)
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