Sunday, January 18, 2009

Pessimism

A Mexican economic research group estimates that the economy will contract by 1.3 percent this year, which is the gloomiest prediction I've seen. Not that it's off base; if Agustín Carstens is saying zero growth in 2009, we can probably assume that his is an optimistic forecast, so minus 1.3 percent isn't too far afield. 

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