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Mexico City.- Mexico’s economy slowed down its expansion pace in the first quarter of the year, affected by a weak performance of US-linked industrial activity, according to data disclosed last Thursday.
Gross Domestic Product (GDP) grew 0.52% between January and March, compared to the fourth quarter of 2010, according to the Mexican Statistics Agency, Instituto Nacional de Estadistica y Geografia.
Economic growth rate in the last quarter of last year was revised down to 1.1% from 1.26%.
GDP performance in the first three months of the year could lead the Mexican Central Bank to leave reference interest rate stable in 4.5% to try to give impulse to economy.
Activity in Mexican industry has been weakening in the last few months, affected by a poorer performance of industry in the USA, Mexico’s main trade partner. Mexico’s economic growth is estimated to be over 4% this year.