Mexico's Q1 economic growth decelerates to 1%

(MENAFN) Mexico's finance ministry announced that during the first quarter, the country's economic growth decelerated to nearly 1 percent, dragged down by a slowing growth in the US, its main trading partner, reported Reuters. The ministry added that the figure is compared with a growth of 3.2 percent in the previous quarter and an expansion of 3.9 percent for the whole 2012. However, in 2013, the Mexican economy is projected to slow to 3.5 percent due to the global slowdown that affects the country's exports. It is worth noting that in March, the country's public sector posted a fiscal deficit of USD1.13 billion.