Mexico economy likely grew 2.7 pct in 3rd qtr

MEXICO CITY Oct 31 (Reuters) - Mexico's economy started growing again during the third quarter after a deep recession, likely expanding about 2.7 percent compared to the previous three months, the finance ministry said.

"The economy showed important signs of recovery," the ministry said in a statement late on Friday night.

Compared to a year ago, the economy shrank 6.4 percent in the quarter.

Mexico's economy is expected to shrink around 7 percent this year, its worst contraction since 1932. The economy began shrinking in the third quarter of 2008 as demand fell for its exports in the United States.

Mexico's central bank estimates the economy grew about 3 percent during the third quarter of 2009. The national statistics agency will report official data for third quarter growth on Nov. 30.

(Reporting by Jason Lange, editing by Alan Elsner)