Mexico factory exports rise but jobless rate up

Mexico's factory-made exports rose in October for the second straight month, data showed on Friday, but the unemployment rate ticked up.

Manufactured exports were up 2.7 percent in October compared with September when adjusted for seasonal swings, the national statistics agency said in a statement, suggesting some improvement after a sharp drop in August.

Exports were down 3.9 percent in October when compared to the same month last year, according to data in the statistics agency's website, reflecting a slowdown in global growth.

Mexico exports mostly manufactured goods like cars and televisions and nearly 80 percent are sent to the United States.

The data showed non-oil consumer imports rose in October by 1.8 percent from September in a sign of improving domestic demand.

A separate report showed the unemployment rate unexpectedly rose to 4.55 percent in October. A Reuters poll had projected the jobless rate would dip to 4.30 percent from 4.50 percent in September.

Rising retail sales helped the economy in the third quarter, when Mexico's economy grew at its fastest pace in two years. Industrial output rebounded in the quarter following a slump in oil output and weak exports in the first half of the year.

Overall, for all kinds of products, Mexico posted a US$1.15 billion trade deficit in October when adjusted for seasonal swings.

In non-seasonally adjusted terms, Mexico posted a trade deficit of US$1.444 billion.