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EDC: Surprise South of the Border?
18 April 2011
Weekly commentary from Peter Hall, chief economist at EDC, on the surging Mexican export sector.
Read more:
Mexico exports
Mexico recovery
EDC Mexico
crisis response
It’s an economic adage well known to Canadians: the US sneezes, and we catch pneumonia. We don’t suffer alone – this delicate constitution also afflicts the only other nation to share a long stretch of US border. It’s only natural to expect that Mexico was ravaged by the US-led recession, and that it has shared the frustrating convalescence that followed. How is the Mexican economy doing?
To say that Mexico was pummelled by recession is an understatement. Following meagre 1.5% growth in 2008, the economy was slammed with a 6.1% drop in output, one of the worst drubbings suffered by any emerging market. Exports led...
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