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LatinNews Daily - 04 November 2019
In brief: Private sector lowers GDP increase forecast to 0.26%
* Mexico’s central bank (Banxico) has released a new report in which private sector economists lowered their growth forecasts for Mexico’s GDP for 2019 to 0.26%, down from 0.43% in September. The survey, which consulted 42 economic analysts and private sector consulting groups, also lowered general inflation expectations for the end of the year to 2.96% from 3.08%. Despite Mexico’s GDP only increasing by 0.1% in the third quarter of 2019 compared with the previous quarter, on 1 November President Andrés Manuel López Obrador assured that the country’s economy was doing “very well”. López Obrador said that jobs are being created, the minimum salary has increased, and there is more internal consumption in Mexico because “the popular economy” has been strengthened.
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