Mexico’s Dynamic Economy Expected to Grow 3-4%
For those considering relocating to Mexico, it is helpful and reassuring to look at the economic stability of the country. Unlike the challenging decline in the economy of the United States, Mexico’s economy, has stabilized and is expected to grow during this next year. There have been minimal housing foreclosures, no failed banks, no bail outs to industry or banks, the deficit is a modest 3.4 billion dollars (US is 1.4 trillion) and unemployment has now dropped to about 7%. Mexico is rapidly pulling out of the recession and the economy has an expected growth rate of 3% to 4%, while the US is hoping for 1.5% growth rate.
The growing ecomony can be credited to four key manufacturing and commerce areas: electronics, automobiles, aerospace, and agriculture. In addition, several huge Mexican corporations are contributing to this future economic growth including Cemex, Bimbo, and American Movil. Read more.