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Mexico's manufacturing industry will grow by 2.9% this year driven by exports from different sectors despite uncertainty over the renegotiation of NAFTA, predicted BBVA Bancomer.

"The forecast is that the sector will grow by 2.9% and the main manufacturing sectors that will grow are: electronics, transport, machinery and equipment", which are export-oriented, said Samuel Vázquez, BBVA Bancomer's main economist, in the presentation of the Sector-Regional Situation report.

According to this first half of the year-study, wholesale trade based on manufacturing will grow by 4.3% and the retailer focused on domestic consumption will grow by 3.4%.