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Article: INDUSTRIAL PRODUCTION & RETAIL SALES REPORTS CONFIRM SEVERE IMPACT OF PESO DEVALUATION ON MEXICAN ECONOMY IN 1995
- Article from:
- SourceMex Economic News & Analysis on Mexico
- Article date:
- March 13, 1996
CopyrightCOPYRIGHT 1996 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In early March, the government and a private industry organization issued separate but related reports confirming that the devaluation of the peso in late 1994 had a profoundly negative impact on key sectors of the economy last year.
One report, released by the Finance Secretariat (SHCP) on March 7, said Mexico's industrial production last year declined by 8% compared with 1994, reflecting a sharp contraction of the domestic market. A separate report, released by the top retailers organization in Mexico City (Camara Nacional de Comercio, CANACO) on March 11, showed that 1995 sales of goods and services at the retail level declined by 48% compared with 1994. Both ...