Banks cut Mexican growth rate for 2017

HSBC and Santander both cut their growth outlook for Mexico next year on expectations that Donald Trump's rise to the U.S. presidency could hit investment and consumer confidence in Latin America's No.2 economy.

Both banks said Mexican gross domestic product would expand about 1.7 percent in 2017. HSBC had previously forecast a 2.3 percent expansion, while Santander had a 2.2 percent rate.

Source: Reuters