Recession slams Mexico (in Spanish)

El Norte, 12/10/2008

It has not officially been recognized as recession, but data released yesterday show an unprecedented drop of 205,000 jobs in Mexico, inflation of 6.23% and a nearly 20% drop in auto sales.

Data from the Mexican Social Security Institute (IMSS) show that, in just the month of November, 205,698 members of the Institute were no longer members – which include permanent and temporary employees as well as self-sufficient persons.

This is the worst loss for a November since record-taking began in 2000.”

Read more…

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