LatinNews Daily - 31 May 2019

* Mexico’s central bank (Banxico) has revised its GDP growth forecast for 2019 to a range of 0.8%-1.8%, less than the 1.1%-2.1% range previously forecast in December 2018. These new figures were released in Banxico’s quarterly report for January-March 2019 on 29 May. The adjusted numbers reflect the 0.2% contraction in GDP in the first three months of 2019, reported by the national statistics institute (Inegi). The Banxico report blamed the stagnant growth on the slowdown in the global economy and weak US industrial production. Still, Banxico maintained that growth in 2020 will be between 1.7% and 2.7%.

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