Friday, July 31, 2009

[IWS] OECD ECONOMIC SURVEY of MEXICO 2009 [30 July 2009]

IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations
-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor
---------------------- Stuart Basefsky
New York, NY 10016
-------------------------------Director, IWS News Bureau

Organisation for Economic Cooperation and Development (OECD)

Economic Survey of Mexico 2009 [30 July 2009],3343,en_2649_33733_43393781_1_1_1_1,00.html
Executive Summary,3343,en_2649_33733_43393921_1_1_1_1,00.html

[full-text, 12 pages]

Despite improved fundamentals, Mexico has not escaped the world
economic recession. The global manufacturing downturn and the collapse
of trade, notably with the United States, have depressed the real sector.
Reduced availability of credit has started to bear on activity, although the
financial sector has so far weathered the global crisis. Low oil prices are
putting pressure on budget revenue, despite a welcome hedging this year.
The change of sentiment of international investors towards emerging-market
borrowers has led to reduced net capital inflows and a large depreciation
of the currency. The outbreak of influenza is likely to also contribute to the
downturn. Thus, growth is set to be negative this year and recover only
gradually in 2010. The authorities have responded with liquidity measures,
lower interest rates, foreign currency interventions and a fiscal stimulus. But
there might be room for more policy action.

AND MUCH MORE....including CHARTS....

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       

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