LatinNews Daily - 02 November 2021

* Private sector economists consulted by Mexico’s central bank (Banxico) have revised down their forecast for Mexico’s GDP growth in 2021 to 6.0%, down from 6.15% in September. The surveyed economists also raised their forecasts for inflation, expecting this to close 2021 at 6.60%, up from 6.26% in their September estimate and well above Banxico’s 3% +/-1 inflation target range for 2021. This follows the latest figures from Mexico’s national statistics institute (Inegi) which show the country’s GDP contracted 0.2% in the Q3, in seasonally-adjusted terms, compared with the previous quarter – the first quarterly decline since the Mexican economy began recovering from the coronavirus (Covid-19) pandemic, which struck in March 2020.

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