Mexico, like most countries, has been hit hard by the COVID-19 global pandemic. Although the number of confirmed cases in Mexico is still relatively low compared to the United States, the impact of containment measures on the economy has been severe. With just over one full month of shutdown behind us, financial institutions are already projecting 2020 GDP growth for Mexico in the range of -9% and potentially worse. Facing this outlook, retailers are scrambling just to stay in business first, and then to plan for an extended period of bleak near to mid-term consumer spending. Continue reading Mexican retail scrambling under COVID-19
March 26, 2020, day whatever of the COVID-19 global crisis, and we’re here to report that Mexico City is still hopping. We’re not going to say that things are normal — they’re not — but we took a bike ride up Av. Alvaro Obregon in central Colonia Roma at lunch time today and the stores and restaurants were open with customers. There’s no question that foot traffic is way down (vehicle traffic was fairly heavy), but there were people out there ordering their glasses of wine or beer while perusing menus at outdoor cafes. The media are telling us that this is not the case in most of Europe right now, so maybe it’s no wonder that the occasional tourist couple can still be seen stubbornly sticking out the remainder of their Mexico City vacation. Continue reading Mexico City COVID-19 update March 26
It’s Friday afternoon here in Mexico City’s popular Condesa nieghborhood and the joints are rockin’. Goin’ round and round, one might even say. Good Time Charlies and Janes are getting after it early for the Benito Juarez holiday weekend, and the beer, wine and mezcal are flowing unto them as a mighty river. Naturally, we are led to recall that time when Jesus totally harshed the disciples’ mellow by announcing that there would be famines, pestilences and earthquakes in divers places (Matthew 24:7), adding that all these would be the beginning of sorrows (24:8). In Mexico, famine is a fairly ongoing affair for large swaths of the population and we had the earthquake two years ago, so one could be forgiven for thinking that maybe it’s finally time for the pestilence, considering the current state of world affairs. Continue reading Mexico City: What, me worry?