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Mexico & Nafta - 15 June 2004

On course for 3.4% growth

The economy is clearly on the mend. Over the first four months of the year the economy's output was 3.4% higher than for the same period of 2003. Encouragingly for the government, growth is accelerating: in April output was 4% up on April 2003. This was well above the consensus forecast that output would be 3.5% higher. The strong April figures capped a spectacular series of March data. All this points to growth this year coming in well above the 3.1% budgeted by the government: a rate closer to 4%, or even over 4% seems more likely.

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