Mexican economy grew 4 percent in 2Q

AP News
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Posted: Jul 30, 2012 11:56 PM
Mexican economy grew 4 percent in 2Q

MEXICO CITY (AP) — Mexico's Finance Department says the country's economy grew by 4 percent in the second quarter of the year as compared to the same period of 2011.

It says growth "moderated slightly, but remained positive and high."

The department says in a report that government revenues were up 9 percent on higher oil income. Spending was up nearly as much.

The country's net debt grew by 1.9 percent compared to the end of 2011, and now stands at the equivalent off 33.6 percent of GDP.

The department said Monday that the number of formally-registered workers grew by 4.7 percent in the quarter