Mexico Hurricane Damage Limited Thus Far

The economic impact of Hurricane Dean following its first landing on the Mexican coast has been relatively limited, though on its second landing, things could worsen. With no damage to the Cancun tourist zone and no deaths, losses were minimal, as far as Caribbean hurricanes go, though Pemex operations in the region remain closed, causing an estimated loss of $150m in exports for the oil giant, according to a Citi report that cites company projections. On Wednesday, Hurricane Dean was headed for Campeche Bay and Veracruz, with expectations that it will gain strength. Potential impacts of that are still unclear.