| | |  Business News | September 2008 
Mexico Trims 2008 Economic Forecast on US Woes
 Associated Press
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| | Treasury Secretary Agustin Carstens | | |
Mexico lowers 2008 economic growth forecast to 2.5 percent, cites US decline
Mexico City - Mexico's treasury secretary said Wednesday he expects the economy to only grow by 2.5 percent by year's end.
Mexico has repeatedly lowered it 2008 growth estimate as the economy in the U.S. - its chief trading partner - deteriorates.
Treasury Secretary Agustin Carstens said Mexico previously estimated its gross national product would grow by 2.8 percent. He says the U.S. economy accounts for 80 percent of the slowdown in Mexico.
Carstens spoke Wednesday in an interview with Mexican broadcaster Televisa.
U.S. economic woes are also affecting the amount of money sent home by Mexican migrants in the U.S. Those remittances are Mexico's second biggest source of foreign income after oil.
Crude production also has fallen 10 percent through July from the year-ago period. |
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