Times tough, but Mexico predicts growth

Mexico's plastics sector expects growth in 2003 to be a couple of percentage points ahead of gross domestic product forecasts and above the sector's growth in 2002, despite the likelihood of a cautious and difficult environment. Mexico President Vicente Fox said on 7 January that 2003 will be a difficult economic year for the country because the US, European and Japanese economies are expected to remain weak. Mexico's economy is tied very closely with that of the US, with 80% of Mexico's exports destined to its northern neighbor.