Aztec Economic Woes Continue

Initial estimates for the first quarter of 2009 indicate that the Mexican economy declined by 8.2 percent from the same period in 2008. The leading economic indicator index of INEGI, the national statistics institute, points to additional economic contraction in the coming months. The Consensus Mexico survey results are in agreement with the INEGI barometer. Panelist projections for real gross domestic product point to a comparatively steep decline. The current consensus forecast calls for a real GDP decrease for Mexico of -4.8 percent for the year as a whole.