Due to the jump in tourism during this year (to over 22 million foreign travelers), the Mexican services sector rose, helping Mexico's economic growth beat analysts' expectations in April.
The services sector expanded by 0.39 percent in April while the other two sectors of the economy declined in month-ago terms. The industrial sector contracted 0.14 percent, its third-straight decline, while the agriculture sector was off 2.04 percent.
Although the year-over-year number was lower than expected, Mexico's economic activity is up in April by 0.35% from the previous month where analysts had predicted a rise of 0.20 percent.
Economists expect the economy could expand by roughly 4.5 percent this year after posting a 5.5 percent growth rate in 2010 -- the strongest in a decade.
Source: www.reuters.com
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