| | |  Business News 
Mexico Reports Economy Expanded 4 Percent in 1Q
 Associated Press
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May 01, 2010
Mexico City – Mexico says its economy expanded an estimated 4 percent in the first quarter, the third consecutive period of growth following a punishing recession.
The Treasury Department says exports grew significantly in part due to a rebound in U.S. industrial production.
Oil revenues rose 17.7 percent largely due to higher crude prices. Oil production fell 3.1 percent compared with the first quarter of 2009.
The department's Friday report says the annual rate of inflation rose to 5 percent. It was 3.6 percent at the end of 2009.
Mexico posted 2.9 percent growth in last year's third quarter and a 1.2 percent rise in the fourth quarter. The economy shrank 6.8 percent overall in 2009, hit hard by U.S. recession.
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