Is Mexico in a recession? Well, yes … and no. Ever since joining NAFTA, Mexico has operated two economies. Sometimes, the two economies walk in lock-step, but most of the time they are somewhat out of sync, which has proven to be a comforting source of diversification and stability. The domestic economy, roughly 60% of the total, is driven by consumption, national government spending, and private investment, led by Mexico’s powerful industrial grupos. Consumer and government spending are both tied to Mexican oil production and global prices, both of which are soft at present. Mexico’s domestic economy is in recession. Some of its demise is owed to external factors, others to a predictable sexenio lull in investment, but also to […]
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