US recession to hit Mexico hard

Mexico, Feb 3 (Prensa Latina) The US economic recession will strongly affect the Mexican economy, with its main sectors already hit by the world finance crisis, according to predictions.

Official figures note that 84 percent of Mexican exports go to the US, and of that number, 80 percent belong to the manufacture industry, which has entered into recession due to reduced demand in that country.

Experts agree the Gross Domestic Product will register 1.7 percent this year.

According to analysts from Banco de Mexico, the economy will shrink 1.95 percent in the first trimester, and in general, it will decrease 1.8 percent this year.

The economic decrease will seriously affect the working sector, with an estimated loss of 340,000 jobs.

In addition the peso will keep depreciating to the dollar, registering