Mexico says rate of economic growth to slow

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