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Article Excerpt
The Mexican economy showed a little bit of life in the second quarter of the year, but analysts say the up tick will almost certainly be short-lived if the US economy experiences an anticipated slowdown. The Secretaria de Hacienda y Credito Publico (SHCP) reported the country's GDP growth at 2.8% in April-June relative to the same period in 2006. When examining the growth rate in the first quarter of this year, GDP growth was up only a fraction of a percentage point in comparison to the first quarter of 2007.
Analysts said the services sector contributed most to the growth in the second quarter, especially transportation, communications, financial services, retail sales, and restaurants and hotels. Nevertheless, said economist Luis Flores of Ixe Grupo Financiero, Mexico's economic recovery "is occurring at a slower pace and in a more...
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