Mexican Economy Grows 5.5% on Strength of Autos and Oil

“Mexico’s economy expanded 5.5 percent in the first quarter over the similar period last year, the Finance Ministry said Wednesday, the fastest growth since 2000.

Economists pointed to the data as evidence that Mexican industry was recovering from the shock of Chinese competition.

A surge in manufacturing that began late last year and increased construction spending was behind the growth, analysts said. Mexico’s auto industry has had the most notable rebound: output grew 54 percent in the first quarter as plants here began producing models like the Ford Focus.”

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