After a weak start in 2014, enthusiasm for Mexico, which passed a landmark energy reform and is undergoing anti-trust reforms in the communications industry, is fizzling out. Year-to-date, the iShares MSCI Mexico Capped Index (EWW) lost 6.9%, while the iShares MSCI Brazil Capped ETF (EWZ) rewarded investors with 5.3%.
Analysts have scaled back their growth estimates for 2014 after a weak start, fearing that Mexico is entering a recession. And the energy reform is going slowly, with the first wave of foreign investments not expected till 2016.
Industrial production in February grew 0.3% from . . .
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