Mexico's Economy, Second Largest in Latin America, Set to Rebound Next Year Anthony Esposito and Felipe Iturrieta - Reuters
go to original August 27, 2013

Mexico’s economy, the second largest in Latin America, is set to rebound next year, boosted by a recovery in its main trade partner, the US, Finance Minister Luis Videgaray said.

The upbeat forecast came days after data showed Mexico’s economy contracted for the first time in four years in the second quarter because of lower government spending, sluggish consumption and weak demand for exports.

The second-quarter contraction prompted the government to cut its 2013 growth outlook to 1.8% from a previous outlook of 3.1%.

“We expect an important recovery in the pace of (economic) growth next year of around 4%,” Videgaray said.

Already in the second half of this year, stronger growth in the US and increased public spending at home will help lift Mexico’s economy, Videgaray said.

Read the rest at Reuters

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