Volume 44, Number 173,
April-June 2013
From Recession to Recovery:
Production and Employment in Mexico and The State of Mexico
Pablo Mejía, Sandra Ochoa and Miguel Ángel Díaz
Effects on National and State Production ( ...continuation )

Figure 1. Cumulative Percentage Growth of Production during the Current Cycle

a) Mexico and US GDP

b) Manufacturing Production in Mexico, US and State of Mexico
Note: The value of 0 on the horizontal axis corresponds to the date of the peak that precedes the Great Recession. Cumulative growth is measured with respect to this value. See Table 1 for exact dates.
Source: Prepared by the authors based on data from inegi and bea.

On the other hand the magnitude of the loss for gdp in Mexico was much higher than in the us, reaching 2.7 times that of the latter. Recovery, however, has been more vigorous in Mexico, although only reaching a rate of 1.5 times that of its northern neighbor. The increased sensibility of the manufacturing industry to different shocks has made its cumulative losses greater in all cases, especially in Mexico, with a drop of 21.8% from the peak. The fall in us manufacturing was also elevated (-17.8%), above the State of Mexico, which was the least affected out of the three, although it too saw a significant cumulative drop of 12.3%. Recovery has also occurred on a large scale in order to recover the losses linked to the previous recession, except in the us, as shown in Figure 1.

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PROBLEMAS DEL DESARROLLO. REVISTA LATINOAMERICANA DE ECONOMÍA, Volume 49, Number 195 October-December 2018 is a quarterly publication by the Universidad Nacional Autónoma de México, Ciudad Universitaria, Coyoacán, CP 04510, México, D.F. by Instituto de Investigaciones Económicas, Circuito Mario de la Cueva, Ciudad Universitaria, Coyoacán,
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