Mexico’s Economy Rises 3.3% in February
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Economic activity in Mexico grew 3.3% in February from the same month last year as a recovery led by manufacturing exports gained more steam than expected, the government said.
The so-called global economic activity indicator, which fell 0.94% compared with January, measures about 96% of the economy in the quarterly gross domestic product data, excluding only fishing and forestry sectors.
February marked a minor bump in the road for the economic recovery, which began in late 2003, as industrial production grew 2.2% and retail sales were weak -- explaining the decline versus the month before, economists said.
Mexico’s recovery from a three-year slump is being led by a growing export demand from the United States -- the destination for 90% of its shipments abroad.
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