`The Moment Of Truth' For MexicoGeri Smith
Americans may be anxious over the impending North American Free Trade Agreement, but the suspense is killing the Mexicans. Economic growth has stalled, job losses are mounting, and a credit crunch is pinching consumers and business. Just look at autos: In April, car sales dropped for the first time since 1987. Auto makers are grimly predicting that sales may fall as much as 10% this year, a far cry from the 23% average growth over the past six years. Says Fausto Cuevas, director of the Mexican Automotive Industry Assn.: "This is going to be a very difficult year."
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- The Latest on the Political Turmoil in Zimbabwe
- Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains
- Norway Oil Bosses Insist End Isn't Nigh After $35 Billion Shock
- Subways May Be the Latest Casualty of China's Crackdown on Debt
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’