Mexico’s international trade expanded for a 16th straight month in August with a 10% expansion on a year earlier to reach a one month record. A surge in energy prices is helping in the near-term. In the longer-term the incoming government wants to expand energy production in the country which may provide a new source of export growth. Trade with the U.S. grew even more quickly with imports having risen by 21% on a year earlier – the fastest rate since February 2012. A resolution to NAFTA uncertainties may lead to a return to business as usual. There is some latent risk though given the r...