LatinNews Regional Monitor: Mexico - 27 February 2020

* Mexico’s central bank (Banxico) has released its latest quarterly report (October-December 2019) which forecasts GDP growth of between 0.5%-1.5% for 2020, down from its previous estimate of 0.8%-1.8%. It cites as grounds for this revision, the domestic economic slowdown reported for the fourth quarter of 2019 (which contracted 0.4% year-on-year), as well as uncertainty due to global factors such as the impact of the coronavirus (Covid-19). The latest forecast follows the release of figures from Mexico’s national statistics institute (Inegi) which confirm that Mexico’s GDP contracted by 0.1% in 2019, compared with 2.1% growth in 2018.

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