| | |  Business News | May 2009 
Mexico Says Its Economy is in Recession
 Associated Press
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Mexico City — Mexico's finance secretary says the country is in an economic recession.
Agustin Carstens says "it is a fact that we are in recession."
He says Gross Domestic Product could contract 4.1 percent this year, an estimate that takes into account a swine flu epidemic that forced a nationwide shutdown of many government services and businesses.
The government has said previously that Mexico's economy would contract this year. But it was the first time officials have said the country is already in recession.
Carstens spoke to a group of reporters Thursday. |
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