Charts Of The Day: More Bad News…

BMI View: Mexico's economic readings are getting progressively worse, highlighted by the 9.5% year-on-year fall in economic activity in January, and unemployment hitting a 12-year high in February. This data supports the recent downgrade to our below-consensus real GDP forecast of negative 5.5% for 2009, with few reasons for any optimism in the medium term, making this by far the worst year for the country's economy since 1995.

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