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Mexico says rate of economic growth to slow

Wednesday, October 31, 2012

Mexico's Finance Ministry Tuesday said it expects gross domestic product to have expanded 3.3 percent in the third quarter from a year earlier, which would mark a slowdown from the 4.3 percent growth in the first six months of the year.

In its third-quarter report on public finances, the ministry attributed the anticipated slowdown in the July-September quarter to slower demand for exports, particularly from the US.

Domestic demand was robust with the number of formal private-sector jobs in September increasing 716,000 from a year earlier, and bank credit to the private sector in August rising 8.9 percent, the ministry said.

Source: Dow Jones Newswires