Mexico third quarter growth seen near four percent

Mexico's economy is expected to have grown nearly 4 percent in the third quarter, driven by services, industry and the automobile sector, Finance Minister Agustin Carstens said on Wednesday.
The forecast, slightly above the central bank's own estimate, would mark an improvement from the second quarter, when Mexico's economy expanded by 2.8 percent. The central bank's economic growth forecast for 2007 is between 3 and 3.5 percent, below last year's 4.8 percent rise.
A tax overhaul approved by Congress in September is seen boosting growth and government revenues and offsetting an expected fall in crude oil production. Carstens said earlier this year that the economy would benefit as the government spends the extra revenue on infrastructure projects, including roads and hospitals.