Written by Tropicasa Realty
February 20th, 2008
February 20, 2008
BY ASSOCIATED PRESS
MEXICO CITY — Mexico’s economy grew 3.3 percent in 2007, slightly faster than the government had projected, as foreign investment soared amid a cooling in the United States, the Treasury Department said Tuesday.
Gross domestic product, the broadest measure of goods and services produced, was boosted by brisk 4.4 percent gains in the service sector, which helped compensate for slowing 2 percent growth in agriculture and 1.4 percent growth in industry, the department said.
Mexico announced that foreign direct investment rose 21 percent in 2007 to $23.2 billion, the second-largest amount in its history.
Half of the total invested went to manufacturing, signaling a supply of ”well-paid jobs, and that there is trust in the administration of President Felipe Calderon,” Economy Secretary Eduardo Sojo told reporters.
Nearly half of investments came from the United States, while Holland followed with 15 percent and Spain with 10 percent, Sojo said.
