Mexican economy is one of the worst

France News.Net
Sunday 5th July, 2009

Mexico's economy is being devastated by the effects of the global economic recession.

Mexico, the world's 13th largest economy, has been hard hit, with its problems likely to lead to the worst economic crisis since the Great Depression.

Tourism, oil exports and remittances from the United States are all in decline, with the consequence being a drop in the economy of 6 percent or more this year.

The Bank of Mexico has warned that manufacturing activity is weak, as evidenced by the automotive industry, where production is expected to slide 40 percent this year.

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