Weekly Report - 29 May 2014 (WR-14-21)

MEXICO | Revising forecasts down. On 21 May Mexico’s central bank (Banxico) lowered its economic growth forecast for the year from 3%-4% to 2.3%-3.3%. Banxico’s revision was announced in its latest quarterly report, which came just ahead of the release of the official first quarter GDP figures by the national statistics institute (Inegi) on 23 May. Banxico explained that the decision to revise the forecast was taken after analysing the “domestic economy’s behaviour over the last couple of months and the expectations about the determinants of growth for the US”.

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