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Mexico's economy starting to flop

Peso sinks to record lows against US dollar, growth rates shrink, poverty rate increases

SLOWDOWN: Economists said that part of the drag on Mexico's economy has been the low world price for oil, which has sapped revenue for the oil-producing country.

Mexico City

LARGELY lost amid the frantic scramble after drug lord Chapo Guzman's dramatic escape, one of the biggest leaps of faith for the Mexican economy landed with a flop.

At the first auction last month to sell the rights to drill for oil in Mexico - as the country opens its