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Reply #93: Seeing US Slowdown, Mexico Cuts Growth [View All]

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citizen snips Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-30-08 03:20 PM
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93. Seeing US Slowdown, Mexico Cuts Growth
MEXICO CITY (AP) -- Mexico indicated Wednesday it expects the downturn in the U.S. will mean much slower growth this year for its own economy, which depends on its northern neighbor for the bulk of its trade and investment.

The Treasury Department said it was lowering its forecast for Mexico's 2008 economic growth to 2.8 percent from 3.7 percent -- a 24 percent drop.

"It is expected that the prevalent international economic scenario in 2008 will be less favorable for Mexico than what was anticipated," the department said in a report posted on its Web site.

Mexico's gross domestic product is expected to have grown about 3.2 percent last year, the department said.

more...
http://biz.yahoo.com/ap/080130/mexico_economy.html?.v=3
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