Mexico: Growth Slows

GDP growth in Mexico slowed in the first quarter as US manufacturing industry, the biggest buyers of Mexican exports, expanded at a slower pace than a year earlier. Mexico’s economy expanded about 4% year-on-year, compared with a 4.9% expansion in the fourth quarter. Finance Minister Francisco Gil Díaz forecast that rising consumer spending and domestic investment will help make up for part of the decline in export growth. The government expects overall growth of 3.8% this year.