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Wall Street Journal reports Mexico's Economy is Going Strong

13 September, 2012

According to several reports released this month by the Wall Street Journal,Mexico's economy is continuing to impress investors from around the world, drawing interest from a variety of sectors. For example,Mexico's stocks have begun to consistently open higher in response to gains in the US markets, while the Mexican peso has gained 1% against the US dollar in recent weeks alone. 

In addition, fall travel bookings are reportedly on the rise in Mexico compared with the same period in 2010, according to a recent survey by international travel agent group Travel Leaders and reported on by the Wall Street journal. According to the report,Travel Leaders reported that the increase in fall bookings to Mexico has occurred “despite the extreme volatility in the United States' economy in the month of August,” showing “pent-up demand” from American travelers. 

“We are encouraged that Americans – whether for business or leisure – are continuing to travel, and more frequently than a year ago despite the uncertainty we've seen recently in our country's economic indicators,” stated Roger Block, president of Travel Leaders.

In addition,Mexico was recently named as one of the most favorable places to invest by Pimco's founder Bill Gross, who has largely shunned the economies of the United States,Europe and Japan of late due to recession and debt fears, stating,“We prefer the 'cleaner' dirty shirt countries of Canada,Australia,Mexico and Brazil, where higher yields and more pristine balance sheets prevail.”

All of the recent positive economic press has helped bring a real boost to Mexico's consumer confidence as well, which the Wall Street Journal reported has risen lately in all areas and was higher in August of 2011 than it was during the same period last year, hitting 93.4, versus a mere 88.7 in 2010.

Topics: Economy The Wall Street Journal Mexico