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.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.