Saturday, September 14, 2013

Is Mexico in recession?

Dallas Fed report says they are close.
Enlarge Mexico’s economy contracted 2.9 percent in the second quarter after growing at a revised rate of 0.1 percent during the first quarter (Chart 1). Service-related activities (including trade, transportation and government) fell 1.7 percent in the second quarter, while goods-producing industries (including manufacturing, construction, utilities and mining) fell 4.3 percent.
They are a downward revision away from a recession. But the last quarter was a steep drop. I guess when growth rates are this low we hardly notice a recession anymore.

No comments: