UPDATE 1-Mexico raises 2010 GDP growth forecast

* Govt raises GDP growth forecast to 3.9 pct from 3 pct

* Growth boosted by U.S. stimulus spending
(Adds details on ministry statement, quote from ministry)

MEXICO CITY, Feb 17 (BestGrowthStock) – Mexico raised its forecast
on Wednesday for economic growth in 2010 to 3.9 percent, citing
higher demand for exports such as automobiles and a rebound in
consumer spending.

Smacked by the U.S. slowdown, Mexico languished in Latin
America’s deepest recession last year and had its debt
downgraded. Mexico sends about 80 percent of its exports to the
United States.

Now, boosted by U.S. stimulus spending, demand for Mexican
exports has recovered faster than government economists
expected. The finance ministry, which announced the new
forecast, had previously been expecting growth of 3.0 percent
in 2010.

“A significant rebound has been seen in terms of external
demand and production indicators,” the ministry said in a
statement, adding that spending and department stores had also

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(Reporting by Jason Lange; Editing by James Dalgleish)

UPDATE 1-Mexico raises 2010 GDP growth forecast