We remain optimistic toward Mexico’s long-term growth outlook on the back of a booming manufacturing sector, an increasingly strong private consumer and favourable demographics. As a result we retain a cautious optimism towards the country’s shipping sector. That said, we believe Mexico’s ability to reverse its severe macroeconomic imbalances and generate the robust growth necessary to propel it to ‘developed market’ status still hinges on the passage of substantive energy sector reform. As we continue to expect the economy will slow in 2013 on the back of moderating external demand, with the manufacturing sector struggling to gain traction, and potential …
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