Mexico’s economic growth slows in Q1
Mexico's Finance Ministry disclosed that the country's economic growth regressed to 3% in the first quarter of 2005 due to weaker manufacturing, especially in the auto sector. Gross domestic product had expanded 4.9% in the final quarter of 2004. Mexico's export-oriented auto sector saw production tumble 10% in the first quarter due in part to slowdowns at Detroit's big three automakers, General Motors Corp, Ford Motor Co and Daimler Chrysler.