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Its GDP for the first quarter of 2009 fell 8.2% from last year, and the government now expects GDP for 2009 to contract by 5.5%, compared with the previous estimate of 4%.
Co-dependent through Good and Bad
Day by day, Mexico is increasingly affected by the global economic crisis. Its GDP for the first quarter of 2009 fell 8.2% from last year, and the government now expects GDP for 2009 to contract by 5.5%, compared with the previous estimate of 4%. The problem: an overdependence on the North American market. However, that same dependency might help Mexico re-emerge sooner than other Latin American countries when the worldwide recession subsides.
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