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Mexico economic growth slows in Q3

November 23, 2008 00:00:00


MEXICO CITY, Nov 22 (Reuters): Economic growth in Mexico cooled to its weakest pace in five years in the third quarter, hurt by weaker US demand for exports and a drop in oil production, the national statistics agency said Friday.
The sharp slowdown, which stems from deep economic troubles in the United States, threatens to hurt Mexico's efforts to reduce rampant poverty. Financial firms like Morgan Stanley and JP Morgan see the country sliding into a recession.
"They're entering a period where they will start really feeling the pain," said Bertrand Delgado, an economist at IDEAglobal.

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