As per latest Mexico economic review national economy has depreciated at a rate of 2.41 percent in December 2008 compared to December 2007. Much of this has been owing to ongoing financial crisis all over world as well as disturbances in service sector of Mexican economy.
According to Mexico economic reviews by national statistics agencies volume of economic production in December 2008 has been 3.42 percent lesser compared to November that year. This data has been calculated on a basis of seasonal adjustments.
Recent economic review of Mexico has revealed that experts of Mexican goods and services to United States of America have gone down to a significant extent. Consumers in USA have stopped buying goods from Mexico such as cars and televisions.
It has also been confirmed by fresh economic review in Mexico that in December 2008 amount of industrial production has gone down at a rate of 5.9 percent when compared to December 2007. This statistic takes into account production in oil and gas industry and manufacturing sector of Mexican economy.
Latest economic review at Mexico reveals that various manufacturing industries in Mexico have been feeling aftereffects of global financial downturn to maximum extent. This sector has had to do away with jobs of a number of workers and outlook of consumers towards this industry has been really negative of late. In December 2008 service sector of Mexican economy depreciated at a rate of 1.8 percent.
Agricultural sector is a comparatively smaller sector of Mexican economy. New Mexico economic review has revealed that it has appreciated at a rate of 15.8 percent. As per latest Mexico economic review on February 25th 2009 peso has depreciated to a significant degree. This is an ominous sign for Mexican economy.
Noted economists and financial analysts, after their Mexico economic review, have said that Mexico’s economy is suffering grievously as a result of economic turbulences in USA. Its stock markets are being affected as well. This is because USA purchases 80 percent of all goods and services exported by Mexico. This global financial catastrophe kicked off in August 2008 and since then peso has lost 33.3 percent of its worth with respect to United States dollars.
Last week, the 0.1% met at World Economic Forum annual gathering in the Swiss mountain resort of Davos. While the official excuse to go there is to discuss and shape the global agenda – the theme dominating this year being inequality – we know that it is more about networking, socialising, fine dining and, new for this year, a chance to improve your wellbeing.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
CEO and co-CIO of PIMCO. Served as President and CEO of the Harvard Management Company for 2 years, while also working at the IMF for 15 years. In 2008, his book "When Markets Collide", won the Financial Times award for Business Book of The Year in addition to being named as the one of the best business books of all time by The Independent.
Mario I. Blejer is a former governor of the Central Bank of Argentina and former Director of the Center for Central Banking Studies at the Bank of England. Eduardo Levy Yeyati is Professor of Economics at Universidad Torcuato Di Tella and Senior Fellow at The Brookings Institution.
Vice President and Director of the Global Economy and Development Program at the Brookings Institution. Former Turkish Minister of State for Economic Affairs. Head of the United Nations Development Program (UNDP) from 2005-2009.