Monday, May 9, 2011

Experts say Japanese shaking issues wouldn't hurt global growth. Right!

So we had japanese vehicle production numbers out a while ago and they were as follows:

Considering how important the japanese industrial base is to auto-parts, for example, check out these charts from Mexico. Data was released this morning.

Together with the Mexican production data, Exports and Domestic Sales also came out:

So... Mexican Exports are back to the recent lows and their domestic sales are still running solid, but close to 1 year lows. The scale of the axis are a bit tricky as the swings were massive.

I like to watch Mexico a bit closer than other countries because they might serve as a proxy to the US economy.

Their inflation data has been below expectations for months, their Central Bank has been dovish. Remittances growth from the US to Mexico (Western Union, etc) have been solid, but 12-month rolling accum levels are still dramatically worse than 2007's highs and very little higher from 2010's lows.

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