Surprisingly good

The Banco de México may have been precipitate in cutting its forecast for GDP growth in 2011 from a range of between 3.8% and 4.8% to a range of between 3.5% and 4%. The third quarter figures, published on 22 November, were much better than expected. Indeed, Mexico has done better over the past four years than a host of other economies. The government is sticking to its forecast of GDP growth of at least 4% in 2011.

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