What this is
The Mexico Brief is where I keep track of what is happening in Mexico. Mostly the economy, politics, and the relationship with the US, though I keep finding other things to add.
It puts data from Banxico, INEGI, Hacienda, and other original sources in one place: the peso, inflation, wages, trade, public finances, polling, crime, energy, and so on. Some numbers update every day. Others update once a year. Government statistics do not, unfortunately, run on my preferred schedule.
The data is the starting point. I add the news that helps explain what might be happening and, occasionally, what I think it means.
Having everything together has been more useful than I expected. Wages make more sense next to inflation. Trade looks different next to the peso. Economic growth is worth looking at next to government approval. These numbers usually live on completely different websites.
Every figure is dated and linked to its original source. You can check my work, go deeper, and reach your own conclusions. When I give you mine, I tell you. Feel free to ignore it.
Why I built it
My name is Alan Lacroix. I was born in Mexico City and moved to Miami when I was young. My Spanish is great. My Mexican accent, on the other hand… más o menos.
I'm building a business in Mexico now and visit often. While doing that, I realized I had lost touch with the country's social, political, and especially economic reality.
Was a stronger peso good or bad for my business? Why had the minimum wage risen so quickly, and what did a supermajority actually allow the government to do? I also wanted to know how much of Mexico's economy depended on the US. These felt like things I should probably know.
I started looking for answers and found myself bouncing between ten different websites. The numbers were usually buried in government portals, databases, PDFs, and press releases. (Mexico's government produces a surprising amount of useful data. Finding it is another matter.)
I also grew frustrated with the news. Too many headlines, in both directions, seemed to arrive at the conclusion before giving me the information I needed to reach my own.
I wanted the facts in front of me. So I started putting them in one place.
I built the Brief for myself and found it extremely useful. Then I shared it with family and friends. They found it useful too, so I opened it up.
Why should you trust me?
Don't. At least not blindly.
Every figure shows the period it covers and links to where it came from. You can open the original source, check the number, and dig as far into the PDF as your patience allows.
I keep four things separate:
Official. Published directly by an institution such as Banxico, INEGI, or Hacienda.
Derived. Something I calculated from the original data. The inputs and method are included.
Reported. A figure that comes from a news report rather than the original dataset.
Analysis or opinion. What I think the numbers mean. You are welcome to disagree.
When a calculation or a conclusion is mine, I say so. The source and date stay next to the number.
If a feed stops updating, its last value stays on the site with the date. I would rather show an old number as old than make it look current.
My name is on the site, along with my reputation. If I get something wrong, I want to know.
I have no affiliation with any government or political party. Nothing here is investment advice.
The email
Once a week, I send a recap of what changed in Mexico's economy, politics, and relationship with the US.
I look at the numbers, add the news that helps explain them, and tell you what I think. The original sources are included if you want to go deeper.
Honestly, my dad could never remember the name of the site, so sending it directly to his inbox was easier. That seems to work well for other people too.
Things I'm interested in
Economic growth. Why Mexico has not grown faster, and what might change that.
Politics. Political stability, the strength of the country's institutions, and which changes matter beyond the day's headlines.
The US–Mexico relationship. Trade, migration, security, and the millions of businesses and families that operate across both countries. I view Mexico partly through a US lens, so I think about this one a lot.
Technology and AI. Whether Mexico's talent, geography, and domestic market translate into important technology companies, and what AI means for its services, factories, and jobs.
Capital and entrepreneurship. I'm interested in private equity, venture capital, family businesses, and the people building companies in Mexico. (I am now one of the people trying.)
Football. We always qualify, usually give ourselves hope, and still have the best jersey. We have them next time.
Tell me what I'm missing
The Brief is still a work in progress. I'm always looking for new sources, better data feeds, and clearer ways to show the information.
If a number looks wrong, something does not make sense, or you know a source I should add, I want to hear it.
Alan