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Mexico's Economy Grows Over 4 Percent In 2010

12 September, 2012

Business Week magazine reported this week that Mexico's economy "rebounded in the first quarter" with GDP growing more than 4 percent from a year earlier.

Quoting the Mexican Finance Ministry's Chief Economist,Miguel Messmacher,the top news publication said the expansion is is driven by increased consumer demand and a recovery in exports.

Messmacher told Business Week,"The economic recovery is stronger than we anticipated ... The fundamentals in Mexico have surprised to the upside."

After a tough 2009,Mexico's GDP is expected to grow as much as 5% overall in 2010.

Loan credit,including Mexico mortgage lending,is also predicted to rise sharply off the back of the strong recovery in the economy. 

According to Mexico's Deputy Finance Minister,Alejandro Werner,bank lending could increase to as much as 17% of GDP in 2010.

Visit Business Week website to read the full story.