Mexico's central bank said it expects the economy will grow at a faster clip between April and June than in the previous two quarters, citing "greater export dynamism."
The Bank of Mexico's board said in a statement that available second-quarter data "seems to indicate improved growth" relative to the two preceding three-month periods.
That improvement is due to "greater export dynamism, although domestic spending still is not showing clear signals of recovery."
In the fourth quarter of 2013, Mexico's gross domestic product grew 0.7 percent compared to the same period of 2012. First-quarter GDP expanded 1.8 percent year-on-year but that was still shy of the government's and economists' projections.
The disappointing first-quarter result prompted Mexican President Enrique Peña Nieto's administration to lower its 2014 growth forecast from 3.9 percent to 2.7 percent.
The Bank of Mexico said of global GDP that although it was lower than expected in the first quarter, there are indications of faster expansion in the April-June period. It said, however, that "downward risks persist."
Referring to the United States, Mexico's leading trade partner, "the most recent data suggests there was a considerable recovery in economic activity in the second quarter," the central bank said. EFE