Government. The unexpected fall of 3.6% on sales of new homes in the month of September, shows the fragile situation of the sector. Above the financial sector is not making its contribution to generate demand, a demand that is far from stimulating by the aforementioned labour fragility problems and uncertainty in the economic context. Speaking of the financial system, we need to pay attention to what could happen in the coming months beyond the regulatory advances. The U.S. financial system can even bring us any surprises. Bank failures are so far at 106 in the year, but this will not be the total number of banks that no longer exist in this 2009. If we consider the growth observed in the GDP of the country from the North depending on the Latin American interests, there is too much scope to the enthusiasm.
It is that the fragility of this recovery and the risks of reversal that still persist, don’t expect a beneficial effect on Latin American economies, and especially for Mexico’s significance. To make matters worse, the exchange rate appreciation of Latin American currencies has deteriorated its relative competitiveness with respect to the American economy, which further decreases the growth expectations in the region from the external sector. I think it is still premature to uncork and celebrate the end of the crisis both for Latin America but mainly for the United States. The crisis for its characteristics will not end so easily and the time together with prudent decisions, is the consolidation of the recovery that will determine. Only have to wait since there is no more room for new plans for economic stimulus whose main effect could be increasing the risk of a new crisis, although this time, since the fiscal accounts. Horacio Pozzo Horacio Pozzo is master’s degree in economics from the University of La Plata, Argentina and editor of the basic economics course for investors, to learn how to invest on the basis of the economy.