Global Crisis: LA recovers before Mexico

A previous note established an estimated contraction for Latin America (LA) between 2 and 2.5 percent. However, this doesn´t apply for every country as new economic growth statistics indicate that major Latin American economies are recovering faster than Mexico (see box below). Estimates indicate Mexico´s GDP will fall between 6.8 and 7.3 percent in the year 2009. According to the Economic Commission for Latin America and the Caribbean (ECLAC) the availability of fiscal resources is what makes the difference between the countries mentioned below.

Gross Domestic Product Growth, 2009
(Percentages)