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LatinNews Daily - 02 December 2021

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In brief: Mexico’s growth forecast revised downwards

* Mexico’s central bank (Banxico) has released two separate reports showing that expectations for GDP growth have diminished. On the one hand, Banxico has released its latest monthly survey of private sector economists, who on average now expect Mexico’s GDP to grow 5.65% this year, compared with an average forecast of 6% a month earlier. On the other hand, the central bank has also released its quarterly economic report for July-September, in which it projects that this year’s GDP will grow 5.4%, down from forecasts of 6.2% in the previous quarterly report. The Mexican economy shrank by 8.2% last year due to the coronavirus (Covid-19) pandemic.