| | |  Business News | October 2009 
Mexico September Factory Survey Points to Growth
 Patrick Rucker - Reuters
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October 05, 2009
Mexico City - A Mexican manufacturing sector survey pointed to growth for a third straight month in September in a sign that Latin America's second-largest economy may be emerging from a recession.
The IMEF factory index rose to 51.6 during last month from 51.1 in August, the Mexican Institute of Financial Executives (IMEF), said in a report on Monday.
Readings of 50 and above signal likely expansion in subsequent months and the index first breached that level in July.
"Factory activity is not in a state of growth but clearly the decline is behind us," the IMEF said.
The fate of the Mexican economy is directly tied to the United States, which buys more than 80 percent of Mexican exports but has been in a recession since late last year.
Mexico's economy shrank for the first half of 2009 but is expected to grow slightly in the rest of the year.
(Editing by James Dalgleish)
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