Mexican Economy Likely Expanded 3.7% in 4Q

The Mexican economy likely expanded 3.7% in the fourth quarter of 2011 compared with the same period in 2010, the Finance Ministry said Monday.

The projected growth is below the 4.5% year-on-year rate registered in the third quarter, as exports were likely hurt by intensified financial turbulence and economic contraction in the euro zone.

In its quarterly report on public finances, the ministry said the Mexican economy probably expanded 4% last year, down from 5.4% growth in 2010. For 2012, the Finance Ministry is expecting a further slowdown to 3.5% growth.