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LatinNews Daily - 04 August 2020
In brief: Mexico’s private sector revises down GDP forecast
* Mexico’s central bank (Banxico) has published its monthly survey of market expectations in the private sector, which forecasts a GDP contraction of 10.02% in 2020. The survey has produced increasingly pessimistic projections since the coronavirus (Covid-19) pandemic upended the global economy – in May the country’s private sector predicted a GDP contraction of 8.16% for 2020, and in June this was revised down to 8.97%. This latest survey predicts that inflation will reach 3.64% by the end of the year, by which time the value of the Mexican peso is expected to have fallen to M$22.69/US$1.
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