By Jose Ruiz

 
Monterrey,  Mexico (July 23, 2009).- Overall the free fall appears to have slowed but we are still falling.  In the US the stabilization of consumer spending, unemployment benefits and the housing markets, a lessening of financial turmoil and increased government spending all suggest the longest recession since the 1930s may be close to ending.
 
In the U.S. Manufacturing shrank in July at the slowest pace in many months and factories moved closer to stabilization. In a Bloomberg News survey, The Institute for Supply Management’s factory gauge increased to 46.5, from 44.8 in June (readings less than 50 signal contraction).
 
Federal Reserve Chairman Alan Greenspan believes the worst is behind us, “collapse, I think, is now off the table.I’m pretty sure we’ve already seen the bottom. In fact, if you look at the weekly production figures for various different industries, it’s clear that we’ve turned, perhaps in the middle of last month, the middle of July.” Greenspan said.
 
U.S. Recovery will be the first step for a recovery in Mexico but other concerns are looming.  A growing deficit and falling oil output may be sleeping monsters that can put added pressure on growth, the exchange rate and an already tricky inflation scenario.

Jose Ruiz is a Principal in Heidrick & Struggles’ Monterrey office. As an executive recruiter he has worked on executive search projects for multinational clients in industrial sectors and consumer markets. He can be reached at +52 (818) 8625-6521 or jruiz@heidrick.com

About Heidrick & Struggles International, Inc.
The world’s premier provider of senior-level executive search and leadership consulting services. The firm’s executive recruiters and leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. In Mexico, Heidrick & Struggles operates offices in Mexico City and Monterrey. For more information about Heidrick & Struggles please visit www.heidrick.com