CORRECTED-UPDATE 1-Mexico economy hampered by US, weather in first quarter - Carstens

viernes 28 de marzo de 2014 14:39 GYT
 

(Corrects time element to Thursday in seventh paragraph)

By Daniel Bases

NEW YORK, March 28 (Reuters) - Mexico's economic growth in the first quarter of the year is being affected by slower growth in the United States and by poor weather, Mexico Central Bank Governor Agustin Carstens said on Friday.

"We have had slower-than-expected growth in the first quarter but I think to a large extent it is also correlated with slower growth in the U.S. and a lot of it is because of the weather," he said, speaking to gathering of The Economic Club of New York.

He also said emerging market nations need to be ready to deal with the consequences of higher interest rates in the United States and other developed nations.

Carstens reiterated to Reuters that the economic growth forecast for 2014 remains between 3 and 4 percent for Latin America's No. 2 economy.

Asked if there was a chance it may come down given the softness in the first quarter economic activity, he deflected the question, saying: "We have to see what the incoming figures tell us. There are some transitory factors effecting growth, such as the weather in the U.S."

"We will revise our forecast in the next inflation report that we will issue in May. So right now we don't have any other figures," he told Reuters after his speech.

On Thursday, Mexico reported factory exports rebounded in February by the most in over four years as auto shipments surged.   Continuación...