Mexico feels the pinchWednesday, 19 November 2008 Mexico has been forced to decrease its growth forecasts as the American economic slowdown takes its toll south of the US border. Although the Mexican economy is less dependent than ever before on the US, thanks to multiple global trade agreements and increasing domestic spending power, the Mexican finance ministry cut GDP forecasts in the last quarter. While reduced import demand from the US was given as a major factor, the ministry still expects the economy to grow in the fourth quarter.
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