As the third quarter of 2009 comes to a close, the Mexican economy remains severely battered. The latest INEGI data indicate that the second quarter of 2009 brought with it an annual GDP decrease, in real terms, of nearly 10.3 percent. The current consensus outlook calls for the light at the end...

For 2009 as a whole, this quarter’s consensus outlook anticipates a steep decline of 6.9 percent in real gross domestic product (GDP). This outlook for inflation-adjusted GDP is not surprising given the panelists expectations for private consumption, as consumers are expected to reduce...