Mexico Economic Report
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As per latest Mexico economic report stock market of Mexico has been doing pretty well. Value of peso, as per Mexican economic report, has gone up as well.
According to Mexico’s economic report much of this has been possible due to two factors – improvement in equities markets around world and better performance of manufacturing sector of China.
Latest economic report in Mexico suggests that recovery staged by stock market of world has helped in revival of peso. Throughout later quarters of 2008 peso had been hindered by economic recession that United States of America had been facing since 2008 fiscal.
It was also expected that USA’s recession would have serious implications for Mexican economy as per many a economic report at Mexico. However, thankfully things have turned out to be just opposite as revealed by economic report of Mexico.
As per detailed economic report for Mexico there is a deep connection between economies of USA and Mexico. Much of this is because 80 percent of goods and services made in Mexico are exported to USA.
Previously as per economic report at Mexico it has been observed that financial markets in Mexico had been performing unsatisfactorily because of prolonged economic downturn in USA, which is a major export partner of Mexico.
At that point of time privately functioning economic forecasters had predicted that in 2009 fiscal economy of Mexico would be depreciating at a rate, which was more than what had been predicted earlier.
Mexico economic report revealed that depreciation of peso had impeded dollar auction benefit of reserve bank of Mexico. This was being done on a regular basis in first quarter of 2009 fiscal.
This Mexico economic report also informed that reserve bank of Mexico traded $400 million, which is upper limit in its daily dollar auctions during this time, Average price in this case was 15.3773 for each dollar.
As per Mexico economic report when AIG, major insurance products and services provider of US, reported that it had lost almost $62 billion in last quarter of 2008 almost all equities markets were equipped with buffers against any probable losses suffered by other financial institutions of similar magnitude. HSBC in Great Britain has also suffered financial losses and this has affected its share holders significantly.
