Fall in Mexico City COVID-19 Cases

The Ministry of Health confirmed 480 new deaths from COVID-19 in the country bringing the total to 31,119. The total number of cases rose to 261,750 after 4,902 more positive cases were added in the last 24 hours.

There are 25,805 active cases, or patients who started with symptoms in the last 14 days and still have the potential to transmit the virus.

During today’s briefing, Deputy Minister of Health Hugo López-Gatell said that 159,657 people have recovered since the epidemic began in Mexico. The official said Mexico City has been reporting a reduction in cases for more than three weeks. "We are having a sustained decline,” he said.

As of Monday, July 6

4,902     new cases (from yesterday)

261,750 confirmed cases nationwide

73,035   under investigation

31,119   deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.33            (-0.38%)

BMV IPC               37,884.76             (-0.17%)

Dow Jones          26,287.03             (1.78%)

Nuevo Leon down MX$38 billion in June

Economic impact on Nuevo León from to the COVID-19 pandemic in June amounted for MX$38 billion, or the equivalent to 12.27 percent of the state's manufacturing GDP, or 2.87 percent of the state total GDP, according to the monthly survey carried out by the Nuevo León Transformation Industry Chamber (CAINTRA).

Peso starts week at MX$22.33

The Mexican peso closed Monday with gains against the US dollar. At the end of the session the exchange rate was at MX$22.33 per greenback, against the MX$22.42 recorded last Friday, Banxico reported. Economic data released in Asia helped virtually every currency in the world gain ground against the US dollar.

Demand increases for home office jobs

Home office job applications increased 287 percent in Mexico during March while the views of remote jobs were 3.72 times higher, according to a study carried out by LinkedIn on the impact of the COVID-19 pandemic on productive activities. Since March, job searches involving remote jobs worldwide increased by 60 percent.

Default rate rises

In last May, the bank’s Default Rate Index (IMOR) went from a level of 2.16 percent to 2.41 percent, according to data from the National Banking and Securities Commission (CNBV). Loan portfolios totaled MX$5.5 billion pesos in May.

No job or school problem grows

The recession caused by COVID-19  will force another 4.3 million people aged between 15 and 29 years into the “NEET” bracket (“NINI” in Spanish) that stands for “Not in Education, Employment or Training”,  according to the Center for Educational and Social Studies (CEES). The new unemployed group will join the 6.3 million already in this situation.