MEXICO CITY (AP) -- The Mexican government says it has cut its economic growth forecast for 2013 from 3.5% to 3.1% after exports stagnated and first-quarter GDP figures came in weak.
The Treasury Department says growth in the first quarter was only 0.8%, in part because Easter vacations fell in March instead of April as they did in 2012.
Industrial production fell by 1.5% in the first quarter. Non-oil exports were largely unchanged, as compared to the same quarter of the previous year.
