Mexico’s economy grows 4.3 pct in 1st quarter in rebound from crisis

Mexico’s economy grows 4.3 pct in 1st quarter

MEXICO CITY — Mexico’s economy is surging out of the global economic crisis, recording growth of 4.3 percent in the first quarter of the year compared to the same period last year, the National Statistics Institute reported Thursday.

It was the first year-on-year growth in more than a year.

Mexico’s gross domestic product had fallen 6.5 percent for 2009 as a whole — the worst figure for any country in Latin America.

Mexico can anticipate similar growth for the entire year, said Moody’s Latin America analyst Alfredo Coutino. But he warned political leaders should still exercise political moderation.

“There are historical and structural reasons to believe that the Mexican economy will grow less in 2011 than in 2010,” he said.

President Felipe Calderon, visiting Washington this week, underscored his country’s rebound, urging the U.S. and Canada to join with Mexico in creating a stronger, economic region.

“Together, we should increase our exporting capacity in a contest of growing competitiveness among different regions of the world,” Calderon said.