Overview
The third week of December will bring crucial economic reports from Mexico on private consumption and retail sales, along with insights into the manufacturing and construction industries’ performance. Meanwhile, Mexico’s central bank, Banxico, will announce its last monetary policy decision of the year. In the United States, key reports on employment, inflation, and consumer spending will be released.
Tuesday, December 16: Government Securities Auction
Government Securities Auction Results:
- Outcomes of the government securities auction, showing demand for Cetes, Bonds, and Udibonos.
- Nonfarm Payrolls (United States, November) – measures job creation and average hourly earnings.
- U.S. Retail Sales (October) – an indicator of private consumption dynamics.
- Preliminary PMI (Purchasing Managers’ Index) for manufacturing and services (United States, December) – gauges economic activity.
Banxico’s weekly publication of government securities auction results reflects investor expectations regarding monetary policy trajectory and risk perception. The Nonfarm Payrolls report in the U.S. is crucial for assessing labor market strength and its impact on consumption, inflation, and Federal Reserve decisions.
U.S. retail sales for October provide insights into private consumption resilience, which is vital for economic growth projections. Preliminary PMI readings for manufacturing and services offer timely insights into economic activity, with values above 50 suggesting expansion and below indicating contraction.
Wednesday, December 17: Private Consumption
Preliminary Indicator of Private Consumption in Mexico
- An early signal of household spending performance in November.
- Monthly Survey of the Manufacturing Industry (October) – a preliminary look at industrial activity.
- OECD’s crude oil inventories – balance between supply and demand in the energy sector.
- Annual Inflation Rate in the Eurozone (November) – crucial for assessing purchasing power and price levels.
Mexico’s preliminary Indicator of Private Consumption offers an early glimpse into household spending in November, helping anticipate internal demand evolution and its contribution to year-end economic growth.
The Monthly Survey of the Manufacturing Industry provides a preliminary outlook on industrial activity in October, evaluating production strength, employment, and external demand.
OECD’s crude oil inventories reflect the energy sector’s supply-demand balance, impacting oil prices and financial market dynamics. The Eurozone’s annual inflation rate report is essential for evaluating purchasing power and price levels, influencing the European Central Bank’s stance on interest rates.
Thursday, December 18: Banxico Announcement
Banxico Monetary Policy Decision:
- Mexico’s retail sales (October) – assessing internal consumption behavior.
- U.S. Inflation Report (November) – crucial for anticipating the Federal Reserve’s stance in early 2026.
- Initial Jobless Claims (United States) – short-term labor market analysis.
- Philadelphia Fed Manufacturing Index (December) – evaluating the health of the U.S. manufacturing sector.
- European Central Bank Monetary Policy Decision
Banxico’s final monetary policy decision of the year will be closely watched, reflecting price stability and future central bank stance. Mexico’s retail sales report (October) evaluates internal consumption strength, crucial for national economic growth.
The U.S. November inflation report is vital for anticipating the Federal Reserve’s position in early 2026, following three consecutive 25-basis-point interest rate cuts. Initial jobless claims and the Philadelphia Fed Manufacturing Index provide immediate insights into the U.S. economy’s health.
Friday, December 19: Construction Sector
National Survey of Construction Companies in Mexico (October) – assessing construction sector performance and infrastructure investment.
Personal Consumption Expenditures (PCE) Price Index (United States, October) – the Federal Reserve’s preferred inflation measure.
Existing Home Sales (United States, November) – gauge the housing market’s strength.
