Why Mexico Is Hanging On For Dear Life From A Recession

Why Mexico Is Hanging On For Dear Life From A Recession

Mexican President Pena Nieto will sell his robust energy plan to Congress in an effort to spur private foreign investment and end the state’s de facto control of its oil reserves.  But negative economic data threatens to dog Nieto’s young administration.

“Following the release last week of a much worse than expected 0.7% q-o-q seasonally-adjusted contraction in Q2’13 GDP, we are now expecting the economy to expand by 1.6% in 2013, a far cry from the 3.5% level we and the market were expecting at the beginning of the year,” writes UBS economist Rafael De La Fuente. 

Read the source article at Business Insider