May 21, 2008 / 6:59 PM / 11 years ago

UPDATE 1-Mexico 1st-qtr foreign direct investment down 36 pct

(Recasts; adds details and background)

MEXICO CITY, May 21 (Reuters) - Mexican foreign direct investment fell sharply during the first three months of 2008 and will end the year lower as the U.S. economy slows, the economy ministry said on Wednesday.

The government said foreign money invested in Mexican operations fell 36 percent during the first quarter to $4.195 billion.

The ministry said full-year foreign direct investment would drop to $20 billion, about 14 percent lower than the figure reported for 2007.

Mexico’s economy is expected to slow this year on weaker demand from the United States, which many economists say is in a recession. (Reporting by Adriana Barrera, Editing by Chizu Nomiyama)

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