The Mexican economy grew 5.5% in 2010, higher than the general consensus predicted. Following a 6.1% decline in 2009, the 2010 growth rate was the strongest showing since 2000.
During the fourth quarter of 2010, gross domestic product (GDP) grew at an annualized rate of 4.4%, exceeding the pre-recession peak of total output achieved in the second quarter of 2008.
With the United States accounting for 80% of Mexican export sales, growth in the Mexican economy remains closely tied to U.S. performance. Strong GDP growth in the U.S. during the second half of 2010 was largely responsible for Mexico’s surprise performance.
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