Mexico factory exports dip for third month straight in March

Mexico's factory-made exports slumped in March, falling for the third month in a row, data showed on Tuesday, as weak global demand dragged on Latin America's No. 2 economy. Manufactured exports fell 2.8 percent in March from February in seasonally adjusted terms, the national statistics agency said. Mexico exports mostly manufactured goods like cars and televisions to the United States, its top trading partner, and many shipments are parts used in American factories. Weakness in U.S. output has weighed on Mexican growth since last year. Non-oil consumer imports fell 1.2 percent in March compared with February in a sign domestic consumption that has helped buoy the Mexican economy could be flagging. A separate report showed the Mexican economy grew 0.2 percent in February compared to January, lifted by the expansion of the services sector while industry contracted. Mexico posted a US$1.956 billion trade deficit in March when adjusted for seasonal swings. In non-seasonally adjusted terms, Mexico posted a trade surplus of US$155 million.