Mexico's Economy Grows 1 Percent in First Quarter Agencia EFE
go to original May 2, 2013

Mexico City - Mexico's gross domestic product grew at an annual rate of 1 percent in real terms in the first quarter of this year after expanding at a 3.2 percent rate in the final three months of 2012, the government said.

The economic growth numbers were included in reports on the economy, public finances and public debt submitted by the Finance and Public Credit Secretariat to Congress.

"The reduced dynamism that the Mexican economic expansion had during the first quarter is related, to a certain extent, to the slowdown registered in the U.S. economy at the end of 2012, and the recent rebound will be reflected in the next few months," the secretariat said.

Mexico posted a budget surplus of 40.17 billion pesos ($3.31 billion) in the first quarter, an improvement from the deficit of 49.54 billion pesos ($4.08 billion) registered during the same period in 2012, the secretariat said.

Read the rest at La Prensa

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