Miserable Mexico

 By all indications, Mexico just recently entered a recession. Business activity, sales growth, business confidence and industrial production are not only all declining but are in contractionary territory. Worse, equities are down 8% after peaking three months ago and GDP declined in Q3 for the first time in years. A NAFTA breakdown is feeding this as is fear that nationalist-leaning populist Andres Manuel Lopez Obrador will win the 7/18 election.

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