Mexico’s Economic Growth Slowed in Second Quarter

Mexican EconomyMexico’s economic growth slowed less than analysts forecast in the second quarter as auto exports climbed to a record, helping offset a downturn in shipments of some manufactured goods and oil.

Gross domestic product expanded 0.9 percent from the first quarter, an annualized rate of 3.5 percent and down from a revised 1.2 percent in the first three months, the statistics agency said today on its website. That beat the 0.7 percent median estimate of seven economists surveyed by Bloomberg.

Economic growth in the U.S., the buyer of 80 percent of Mexico’s exports, slowed to a 1.5 percent annual rate in the second quarter amid unemployment that has held above 8 percent for more than three years.

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Authored By Eric Martin and Nacha Cattan – See the Full Story at Bloomberg.com

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