Mexico's economy grew 3.9 pc in 2011

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IANS/EFE | 17 Feb, 2012
Mexico's gross domestic product grew 3.9 percent last year, the state-run National Institute of Statistics and Geography, or INEGI, said Thursday.

The construction sector advanced 4.6 percent in the fourth quarter of 2011 compared with the same period of the previous year, while manufacturing expanded 3.9 percent and utilities grew 2.2 percent, according to INEGI's figures.

Mining slipped 1 percent and Mexico's vital oil industry declined by 3.2 percent.

Retail gained 5.6 percent in October-December 2011 and insurance/financial services grew 6.8 percent, INEGI said.

Mexico, Latin America's second-biggest economy, saw its GDP expand by 5.5 percent in 2010 over the previous year, when the country was just beginning to emerge from its worst slump since the 1930s.