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Mexico Manufacturing to Grow This Year
May 27, 2003
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The Mexican manufacturing sector is likely to grow a weak 1.4 percent this year because of the lack of vigor in the U.S. economy, a report by the Center for Private Sector Economic Studies (CEESP) showed. The study said the manufacturing sector would see "a greater dynamism and growth in 2004 of up to 2.8 percent." Manufacturing, which the CEESP said represents 20 percent of Mexico's gross domestic product, grew 0.9 percent in the first quarter of the year after falling 0.6 percent in 2002.

Mexico's central bank last month cut its estimate for GDP growth this year to 2.4 percent from 3 percent. The vast majority of Mexico's exports go to the U.S. (Reuters)

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